Cato (NYSE:CATO) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Cato Corporation (The) (NYSE:CATO) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $3.10 and traded as high as $3.43. Cato shares last traded at $3.2090, with a volume of 363,166 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Cato from a “sell (e+)” rating to a “sell (d)” rating in a research report on Monday, June 15th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Cato Price Performance

The company has a market capitalization of $64.05 million, a P/E ratio of -320.58 and a beta of 0.58. The company has a fifty day moving average price of $3.20 and a 200 day moving average price of $3.10.

Cato (NYSE:CATO) last announced its quarterly earnings results on Tuesday, May 26th. The specialty retailer reported $0.47 earnings per share for the quarter. The business had revenue of $171.10 million for the quarter. Cato had a return on equity of 0.05% and a net margin of 0.01%.

Institutional Investors Weigh In On Cato

An institutional investor recently bought a new position in Cato stock. Jacobs Levy Equity Management Inc. bought a new position in shares of Cato Corporation (The) (NYSE:CATO) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 52,265 shares of the specialty retailer’s stock, valued at approximately $174,000. Jacobs Levy Equity Management Inc. owned approximately 0.26% of Cato at the end of the most recent reporting period. Hedge funds and other institutional investors own 61.10% of the company’s stock.

Cato Company Profile

Cato Corporation is a specialty apparel retailer headquartered in Charlotte, North Carolina. Founded in 1946 by Carl and Bernice Cato, the company operates two banner store concepts—Cato and Versona—and maintains an e-commerce platform to extend its reach beyond brick-and-mortar locations. Cato’s retail mission centers on providing fashionable women’s clothing and accessories at moderate price points.

With over 1,200 stores across more than 30 U.S. states, primarily concentrated in the Southeastern and Mid-Atlantic regions, Cato serves a broad customer base seeking everyday and occasion-driven wardrobe solutions.