Bassett Furniture Industries Inc. (BSET) Receives Consensus Rating of “Hold” from Analysts

Shares of Bassett Furniture Industries Inc. (NASDAQ:BSET) have received an average rating of “Hold” from the six brokerages that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $21.00.

Several equities research analysts recently weighed in on BSET shares. Zacks Investment Research downgraded Bassett Furniture Industries from a “hold” rating to a “sell” rating in a report on Friday, August 31st. ValuEngine raised Bassett Furniture Industries from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 31st. Stifel Nicolaus cut their price objective on Bassett Furniture Industries from $29.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, September 28th. Finally, BidaskClub downgraded Bassett Furniture Industries from a “sell” rating to a “strong sell” rating in a report on Friday, August 31st.

NASDAQ BSET opened at $20.27 on Monday. Bassett Furniture Industries has a twelve month low of $18.86 and a twelve month high of $40.30. The firm has a market cap of $215.64 million, a P/E ratio of 12.83 and a beta of 0.89.

Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings data on Thursday, September 27th. The company reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.14). Bassett Furniture Industries had a net margin of 2.47% and a return on equity of 7.07%. The firm had revenue of $112.96 million for the quarter. Research analysts forecast that Bassett Furniture Industries will post 1.19 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 23rd. Shareholders of record on Friday, November 9th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.47%. The ex-dividend date was Thursday, November 8th. Bassett Furniture Industries’s payout ratio is presently 31.65%.

In other Bassett Furniture Industries news, Director John R. Belk acquired 15,000 shares of the company’s stock in a transaction dated Friday, October 12th. The shares were bought at an average cost of $20.99 per share, with a total value of $314,850.00. Following the purchase, the director now directly owns 16,109 shares of the company’s stock, valued at $338,127.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John R. Belk acquired 3,306 shares of the company’s stock in a transaction dated Thursday, October 4th. The stock was acquired at an average cost of $20.99 per share, for a total transaction of $69,392.94. Following the completion of the purchase, the director now directly owns 16,109 shares in the company, valued at $338,127.91. The disclosure for this purchase can be found here. 6.00% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the company. Millennium Management LLC lifted its stake in shares of Bassett Furniture Industries by 87.1% in the 2nd quarter. Millennium Management LLC now owns 77,851 shares of the company’s stock valued at $2,145,000 after purchasing an additional 36,240 shares during the period. Macquarie Group Ltd. lifted its stake in shares of Bassett Furniture Industries by 135.1% in the 2nd quarter. Macquarie Group Ltd. now owns 10,964 shares of the company’s stock valued at $302,000 after purchasing an additional 6,300 shares during the period. Alps Advisors Inc. acquired a new position in shares of Bassett Furniture Industries in the 2nd quarter valued at about $227,000. Schwab Charles Investment Management Inc. lifted its stake in shares of Bassett Furniture Industries by 15.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 23,287 shares of the company’s stock valued at $642,000 after purchasing an additional 3,100 shares during the period. Finally, Gabelli Funds LLC lifted its stake in shares of Bassett Furniture Industries by 17.8% in the 2nd quarter. Gabelli Funds LLC now owns 265,500 shares of the company’s stock valued at $7,315,000 after purchasing an additional 40,103 shares during the period. 73.72% of the stock is currently owned by institutional investors.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States. The company operates in three segments: Wholesale, Retail, and Logistical Services. It is involved in the design, manufacture, sourcing, sale, and distribution of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings (BHF) retail stores, as well as independent furniture retailers; and wood and upholstery operations.

Further Reading: Cost of Equity For A Business, Investors

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