Cato (NYSE:CATO) Raised to Buy at Wall Street Zen

Cato (NYSE:CATO) was upgraded by analysts at Wall Street Zen to a “buy” rating in a research report issued on Saturday.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Cato in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Cato Stock Performance

Shares of Cato stock opened at $3.89 on Friday. Cato has a fifty-two week low of $2.19 and a fifty-two week high of $6.70. The company has a market capitalization of $76.75 million, a P/E ratio of -3.85 and a beta of 0.85. The company has a fifty day moving average of $4.05 and a 200 day moving average of $3.19.

Cato (NYSE:CATO) last posted its quarterly earnings results on Thursday, August 21st. The specialty retailer reported $0.35 EPS for the quarter. The business had revenue of $176.51 million for the quarter. Cato had a negative return on equity of 11.23% and a negative net margin of 2.93%.

Hedge Funds Weigh In On Cato

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in Cato by 76.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 47,437 shares of the specialty retailer’s stock valued at $158,000 after buying an additional 20,521 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Cato in the first quarter valued at $174,000. Prescott Group Capital Management L.L.C. grew its holdings in shares of Cato by 13.7% in the first quarter. Prescott Group Capital Management L.L.C. now owns 166,040 shares of the specialty retailer’s stock valued at $553,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Peapod Lane Capital LLC increased its position in Cato by 13.5% in the first quarter. Peapod Lane Capital LLC now owns 656,690 shares of the specialty retailer’s stock worth $2,187,000 after purchasing an additional 78,058 shares during the last quarter. 61.10% of the stock is owned by institutional investors.

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.