Bassett Furniture Industries Inc. (BSET) Receives $33.00 Average Price Target from Brokerages

Bassett Furniture Industries Inc. (NASDAQ:BSET) has been assigned an average rating of “Hold” from the six analysts that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $33.00.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Bassett Furniture Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 3rd. BidaskClub lowered shares of Bassett Furniture Industries from a “sell” rating to a “strong sell” rating in a report on Tuesday, April 3rd. Stifel Nicolaus dropped their price objective on shares of Bassett Furniture Industries from $37.00 to $33.00 and set a “hold” rating for the company in a report on Thursday, March 29th. TheStreet lowered shares of Bassett Furniture Industries from a “b” rating to a “c+” rating in a report on Friday, April 13th. Finally, Sidoti upgraded shares of Bassett Furniture Industries from a “neutral” rating to a “buy” rating in a report on Thursday, May 10th.

Shares of NASDAQ BSET traded up $0.25 during trading on Monday, reaching $28.70. The company had a trading volume of 34,858 shares, compared to its average volume of 33,143. Bassett Furniture Industries has a 52 week low of $27.48 and a 52 week high of $41.30. The company has a market cap of $305.99 million, a PE ratio of 18.16 and a beta of 0.90.



Bassett Furniture Industries (NASDAQ:BSET) last announced its earnings results on Wednesday, March 28th. The company reported $0.12 earnings per share for the quarter, missing the Zacks’ 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 during the quarter, compared to the consensus estimate of $111.75 million. research analysts expect that Bassett Furniture Industries will post 1.41 earnings per share for the current year.

In other Bassett Furniture Industries news, SVP Mark S. Jordan sold 3,400 shares of the firm’s stock in a transaction that occurred 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 owns 14,810 shares in the company, valued at approximately $445,188.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP John E. Bassett III sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, April 12th. The stock was sold at an average price of $29.50, for a total transaction of $44,250.00. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. MetLife Investment Advisors LLC purchased a new stake in shares of Bassett Furniture Industries during the fourth quarter valued at $202,000. Captrust Financial Advisors bought a new stake in Bassett Furniture Industries during the 4th quarter valued at $226,000. Alps Advisors Inc. bought a new stake in Bassett Furniture Industries during the 4th quarter valued at $227,000. KBC Group NV raised its position in Bassett Furniture Industries by 48.5% during the 1st quarter. KBC Group NV now owns 6,365 shares of the company’s stock valued at $193,000 after purchasing an additional 2,079 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in Bassett Furniture Industries during the 1st quarter valued at $224,000. 76.58% of the stock is 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.

Receive News & Ratings for Bassett Furniture Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bassett Furniture Industries and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply