Bassett Furniture Industries (NASDAQ:BSET – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday, Zacks.com reports.
According to Zacks, “Bassett Furniture Industries, Inc. is a leading manufacturer and marketer of high quality, mid-priced home furnishings. With over one hundred and thirty Bassett Furniture Direct stores, Bassett has leveraged its brand name in furniture with a network of licensed and Company-owned stores that focus on providing consumers with a friendly and professional environment for buying furniture and accessories. The Company continues to sell its products to other retailers, in addition to the Company’s dedicated retail store program. Bassett’s retail strategy promotes affordable custom-built furniture that is ready for delivery in the home within thirty days. The stores also feature the latest on-trend furniture styles, more than one thousand upholstery fabrics, free in-home design visits, and coordinated decorating accessories. “
Separately, StockNews.com assumed coverage on shares of Bassett Furniture Industries in a research report on Thursday, March 31st. They set a “buy” rating on the stock.
Bassett Furniture Industries (NASDAQ:BSET – Get Rating) last issued its quarterly earnings results on Thursday, March 31st. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.08. The business had revenue of $117.86 million for the quarter, compared to analysts’ expectations of $109.87 million. Bassett Furniture Industries had a net margin of 3.99% and a return on equity of 11.30%. Equities research analysts anticipate that Bassett Furniture Industries will post 1.92 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the company. Gabelli Funds LLC boosted its position in shares of Bassett Furniture Industries by 1.2% during the 1st quarter. Gabelli Funds LLC now owns 195,300 shares of the company’s stock worth $3,234,000 after purchasing an additional 2,400 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Bassett Furniture Industries by 1.1% in the 1st quarter. Gamco Investors INC. ET AL now owns 686,615 shares of the company’s stock worth $11,370,000 after acquiring an additional 7,298 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Bassett Furniture Industries by 54.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 33,756 shares of the company’s stock worth $559,000 after acquiring an additional 11,861 shares during the last quarter. State Street Corp raised its holdings in shares of Bassett Furniture Industries by 1.7% in the 1st quarter. State Street Corp now owns 148,983 shares of the company’s stock worth $2,688,000 after acquiring an additional 2,495 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Bassett Furniture Industries by 6.0% in the 1st quarter. Invesco Ltd. now owns 29,559 shares of the company’s stock worth $490,000 after acquiring an additional 1,674 shares during the last quarter. 61.69% of the stock is currently owned by institutional investors.
Bassett Furniture Industries Company Profile (Get Rating)
Bassett Furniture Industries, Incorporated engages in the manufacture, marketing, and retail of home furnishings in the United States and internationally. It operates through three segments: Wholesale, Retail -company-owned Stores, and Logistical Services. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products to a network of company-owned retail stores and licensee-owned stores, and independent furniture retailers; and wood and upholstery operations.
- Get a free copy of the StockNews.com research report on Bassett Furniture Industries (BSET)
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