Bassett Furniture Industries (NASDAQ:BSET) was downgraded by stock analysts at TheStreet from a “b” rating to a “c+” rating in a report released on Friday.
A number of other research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Bassett Furniture Industries from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Thursday, December 28th. Stifel Nicolaus decreased their target price on shares of Bassett Furniture Industries from $37.00 to $33.00 and set a “hold” rating for the company in a research report on Thursday, March 29th. Finally, BidaskClub upgraded shares of Bassett Furniture Industries from a “strong sell” rating to a “sell” rating in a research report on Saturday, February 17th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $39.00.
NASDAQ:BSET opened at $29.35 on Friday. Bassett Furniture Industries has a 12 month low of $27.43 and a 12 month high of $41.30. The firm has a market cap of $315.67, a PE ratio of 18.58 and a beta of 0.87.
Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings data on Wednesday, March 28th. The company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.19). Bassett Furniture Industries had a return on equity of 8.10% and a net margin of 3.17%. The company had revenue of $110.27 million for the quarter, compared to analyst estimates of $111.75 million. research analysts predict that Bassett Furniture Industries will post 1.41 EPS for the current fiscal year.
In related news, SVP John E. Bassett III sold 1,500 shares of the business’s stock in a transaction on Thursday, April 12th. The shares were sold at an average price of $29.50, for a total transaction of $44,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Mark S. Jordan sold 3,400 shares of Bassett Furniture Industries stock in a transaction on Tuesday, April 3rd. The shares were sold at an average price of $30.06, for a total transaction of $102,204.00. Following the completion of the transaction, the senior vice president now directly owns 14,810 shares of the company’s stock, valued at approximately $445,188.60. The disclosure for this sale can be found here. Insiders have sold 5,400 shares of company stock valued at $163,479 over the last 90 days. 6.00% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC purchased a new position in Bassett Furniture Industries in the fourth quarter valued at $202,000. Millennium Management LLC increased its holdings in Bassett Furniture Industries by 241.0% in the fourth quarter. Millennium Management LLC now owns 108,306 shares of the company’s stock valued at $4,072,000 after buying an additional 76,542 shares in the last quarter. Captrust Financial Advisors purchased a new position in Bassett Furniture Industries in the fourth quarter valued at $226,000. Two Sigma Investments LP increased its holdings in Bassett Furniture Industries by 16.3% in the fourth quarter. Two Sigma Investments LP now owns 18,833 shares of the company’s stock valued at $708,000 after buying an additional 2,636 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Bassett Furniture Industries by 60.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 34,006 shares of the company’s stock valued at $1,279,000 after buying an additional 12,823 shares in the last quarter. 73.42% of the stock is owned by institutional investors.
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Bassett Furniture Industries Company Profile
Bassett Furniture Industries, Incorporated is a manufacturer, importer and retailer of home furnishings. The Company’s segments include Wholesale, Retail – Company-owned stores and Logistical services. Its wholesale home furnishings segment is involved in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (licensee-owned stores and Company-owned stores) and independent furniture retailers.
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