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Noble Financial Maintains Their Buy Rating on Bassett Furniture (BSET)

In a report released today, Joe Gomes from Noble Financial maintained a Buy rating on Bassett Furniture (BSETResearch Report), with a price target of $32.00. The company’s shares closed last Thursday at $22.71.

According to TipRanks.com, Gomes is a 4-star analyst with an average return of 5.3% and a 39.9% success rate. Gomes covers the Technology sector, focusing on stocks such as Comtech Telecommunications, Voyager Digital (Canada), and One Stop Systems.

Bassett Furniture has an analyst consensus of Moderate Buy, with a price target consensus of $32.00.

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Based on Bassett Furniture’s latest earnings release for the quarter ending May 31, the company reported a quarterly revenue of $129 million and net profit of $47.12 million. In comparison, last year the company earned revenue of $110 million and had a net profit of $5.97 million.

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Bassett Furniture Industries, Inc. manufactures, markets and retails home furnishings. It operates through the following segments: Wholesale, Retail, and Logistical Services. The Wholesale segment focuses on the design, manufacture, sourcing, sale and distribution of furniture products. The Retail segment consists of local furniture stores, regional furniture retailers, national department, chain stores and single-vendor branded retailers. The Logistical Services segment offers shipping, delivery, and warehousing services. The company was founded by John David Bassett, Sr. in 1902 and is headquartered in Bassett, VA.

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