Wall Street Zen Upgrades Cato (NYSE:CATO) to “Hold”

Cato (NYSE:CATO) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Cato Price Performance

Shares of Cato stock opened at $2.83 on Friday. The stock’s 50 day simple moving average is $2.73 and its 200-day simple moving average is $3.40. The stock has a market cap of $56.72 million, a P/E ratio of -2.05 and a beta of 0.71. Cato has a 1-year low of $2.19 and a 1-year high of $6.70.

Cato (NYSE:CATO) last announced its quarterly earnings data on Thursday, May 22nd. The specialty retailer reported $0.17 EPS for the quarter. The firm had revenue of $170.24 million for the quarter. Cato had a negative return on equity of 14.41% and a negative net margin of 4.11%.

Institutional Trading of Cato

Hedge funds have recently made changes to their positions in the company. Peapod Lane Capital LLC purchased a new stake in shares of Cato during the 4th quarter valued at approximately $2,257,000. Prescott Group Capital Management L.L.C. acquired a new stake in Cato during the fourth quarter worth $570,000. Jacobs Levy Equity Management Inc. purchased a new stake in Cato in the first quarter valued at $174,000. JPMorgan Chase & Co. raised its position in Cato by 40.1% in the third quarter. JPMorgan Chase & Co. now owns 85,621 shares of the specialty retailer’s stock valued at $427,000 after purchasing an additional 24,522 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Cato in the 4th quarter valued at $87,000. Hedge funds and other institutional investors own 61.10% of the company’s stock.

Cato Company Profile

The Cato Corporation, together with its subsidiaries, operates as a specialty retailer of fashion apparel and accessories primarily in the southeastern United States. It operates through two segments, Retail and Credit. The company's stores and e-commerce websites offer a range of apparel and accessories, including dressy, career, and casual sportswear; and dresses, coats, shoes, lingerie, costume jewelry, and handbags, as well as men's wear, and lines for kids and infants.