Cato (NYSE:CATO) Stock Passes Above 200 Day Moving Average – What’s Next?

Cato Corporation (The) (NYSE:CATO)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.10 and traded as high as $3.23. Cato shares last traded at $3.15, with a volume of 34,257 shares changing hands.

Analysts Set New Price Targets

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

Cato Price Performance

The company has a market capitalization of $63.87 million, a P/E ratio of -319.68 and a beta of 0.59. The stock’s 50 day moving average is $3.07 and its 200-day moving average is $3.10.

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

Institutional Investors Weigh In On Cato

A hedge fund recently raised its stake in Cato stock. Goldman Sachs Group Inc. boosted its position in Cato Corporation (The) (NYSE:CATO) by 76.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,437 shares of the specialty retailer’s stock after purchasing an additional 20,521 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.24% of Cato worth $158,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 61.10% of the company’s stock.

About Cato

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.