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CATO - Assessing Cato Corporation's Cash Flow Ahead Of Its Annual Numbers
Cato Corporation Class A
We wrote about Cato Corporation (CATO) back in October and stated that we believed shares may undergo short-term weakness before presenting another long-term buying opportunity. Since we penned that piece, the share price has dropped almost 10%. We still maintain that the most likely scenario to play out over the next while is that shares come back down to test the August gap before finding solid support once more.
Currently, Cato trades with an earnings multiple of 10.9. Despite our $14+ near-term target, shares are still cheap as the average price for this stock over