Cato (NYSE:CATO) Rating Increased to Buy at StockNews.com

Cato (NYSE:CATO) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Separately, TheStreet cut shares of Cato from a “c-” rating to a “d+” rating in a report on Monday, March 18th.

Cato Stock Performance

CATO stock opened at $5.23 on Wednesday. The stock has a fifty day moving average of $5.50 and a 200-day moving average of $6.09. Cato has a fifty-two week low of $4.56 and a fifty-two week high of $8.78. The company has a market capitalization of $107.50 million, a price-to-earnings ratio of -6.23 and a beta of 1.09.

Cato (NYSE:CATO) last issued its earnings results on Thursday, May 23rd. The specialty retailer reported $0.54 earnings per share for the quarter. The firm had revenue of $177.10 million during the quarter. Cato had a negative net margin of 2.51% and a negative return on equity of 8.36%.

Hedge Funds Weigh In On Cato

A number of hedge funds have recently modified their holdings of CATO. Vanguard Group Inc. increased its holdings in Cato by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 931,094 shares of the specialty retailer’s stock valued at $5,372,000 after purchasing an additional 7,072 shares during the period. State Board of Administration of Florida Retirement System purchased a new position in shares of Cato during the first quarter valued at approximately $67,000. Marquette Asset Management LLC raised its holdings in shares of Cato by 86.1% during the first quarter. Marquette Asset Management LLC now owns 76,345 shares of the specialty retailer’s stock valued at $441,000 after acquiring an additional 35,313 shares in the last quarter. Empowered Funds LLC lifted its stake in Cato by 8.1% in the first quarter. Empowered Funds LLC now owns 39,666 shares of the specialty retailer’s stock worth $229,000 after acquiring an additional 2,975 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in Cato by 64.6% in the first quarter. BNP Paribas Financial Markets now owns 7,995 shares of the specialty retailer’s stock valued at $46,000 after acquiring an additional 3,139 shares in the last quarter. Hedge funds and other institutional investors own 61.10% of the company’s stock.

About Cato

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.