Cato (NYSE:CATO) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of Cato (NYSE:CATO - Free Report) from a sell rating to a hold rating in a research report released on Saturday.

Cato Stock Performance

Shares of NYSE CATO traded down $0.14 during midday trading on Friday, reaching $2.75. 13,885 shares of the company's stock were exchanged, compared to its average volume of 110,954. Cato has a 52-week low of $2.19 and a 52-week high of $6.70. The stock has a market capitalization of $55.21 million, a PE ratio of -1.99 and a beta of 0.71. The business's fifty day moving average price is $2.72 and its two-hundred day moving average price is $3.34.

Cato (NYSE:CATO - Get Free Report) last announced its earnings results on Thursday, May 22nd. The specialty retailer reported $0.17 earnings per share (EPS) for the quarter. Cato had a negative return on equity of 14.41% and a negative net margin of 4.11%. The business had revenue of $170.24 million for the quarter.

Institutional Trading of Cato

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Peapod Lane Capital LLC increased its position in shares of Cato by 13.5% during the first quarter. Peapod Lane Capital LLC now owns 656,690 shares of the specialty retailer's stock worth $2,187,000 after acquiring an additional 78,058 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Cato by 8.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 294,905 shares of the specialty retailer's stock worth $1,150,000 after acquiring an additional 22,333 shares during the last quarter. Prescott Group Capital Management L.L.C. increased its position in shares of Cato by 13.7% during the first quarter. Prescott Group Capital Management L.L.C. now owns 166,040 shares of the specialty retailer's stock worth $553,000 after acquiring an additional 20,000 shares during the last quarter. Bridgeway Capital Management LLC grew its stake in Cato by 17.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 142,930 shares of the specialty retailer's stock worth $557,000 after purchasing an additional 20,926 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Cato by 40.1% in the third quarter. JPMorgan Chase & Co. now owns 85,621 shares of the specialty retailer's stock worth $427,000 after purchasing an additional 24,522 shares in the last quarter. 61.10% of the stock is owned by hedge funds and other institutional investors.

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.