Cato (NYSE:CATO) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Cato Corporation (The) (NYSE:CATO)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 traded.

Analyst Ratings Changes

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

Cato Price Performance

The firm has a market cap of $62.87 million, a PE ratio of -314.69 and a beta of 0.59. The business’s fifty day moving average is $3.07 and its 200-day moving average is $3.10.

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

Hedge Funds Weigh In On Cato

A hedge fund recently raised its stake in Cato stock. Goldman Sachs Group Inc. raised its position in shares of Cato Corporation (The) (NYSE:CATO) by 76.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,437 shares of the specialty retailer’s stock after purchasing an additional 20,521 shares during the period. Goldman Sachs Group Inc. owned 0.24% of Cato worth $158,000 as of its most recent filing with the Securities and Exchange Commission. 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.