Atour Lifestyle (NASDAQ:ATAT) Sets New 1-Year High - Here's Why

Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The company traded as high as $35.26 and last traded at $35.00, with a volume of 1201164 shares traded. The stock had previously closed at $33.79.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ATAT shares. Citigroup reiterated a "buy" rating and set a $38.00 price target (up previously from $36.50) on shares of Atour Lifestyle in a report on Friday, May 23rd. Bank of America lifted their price target on Atour Lifestyle from $35.30 to $36.80 and gave the stock a "buy" rating in a report on Friday, March 14th. Finally, Wall Street Zen upgraded Atour Lifestyle from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $36.63.

Atour Lifestyle Stock Up 5.2%

The company has a market cap of $4.91 billion, a P/E ratio of 28.21, a PEG ratio of 0.97 and a beta of 0.82. The firm's 50 day moving average is $30.51 and its two-hundred day moving average is $28.55.

Atour Lifestyle Increases Dividend

The company also recently declared an annual dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a yield of 1.3%. This is a boost from Atour Lifestyle's previous annual dividend of $0.40. Atour Lifestyle's dividend payout ratio is 30.95%.

Atour Lifestyle declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 22nd that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

Hedge Funds Weigh In On Atour Lifestyle

Several institutional investors have recently made changes to their positions in the stock. OLP CAPITAL MANAGEMENT Ltd grew its position in Atour Lifestyle by 17.1% in the 4th quarter. OLP CAPITAL MANAGEMENT Ltd now owns 7,202,395 shares of the company's stock worth $193,672,000 after purchasing an additional 1,052,822 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Atour Lifestyle by 1,544.1% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,885,583 shares of the company's stock valued at $195,206,000 after acquiring an additional 6,466,787 shares during the period. Bank of America Corp DE grew its position in shares of Atour Lifestyle by 8.3% during the 4th quarter. Bank of America Corp DE now owns 3,534,543 shares of the company's stock valued at $95,044,000 after acquiring an additional 269,656 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Atour Lifestyle by 3,189.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,582,975 shares of the company's stock valued at $73,227,000 after acquiring an additional 2,504,461 shares during the period. Finally, Principal Financial Group Inc. bought a new position in shares of Atour Lifestyle during the 1st quarter valued at approximately $68,322,000. Institutional investors and hedge funds own 17.79% of the company's stock.

About Atour Lifestyle

Atour Lifestyle Holdings Limited, through its subsidiaries, develops lifestyle brands around hotel offerings in the People's Republic of China. The company provides hotel management services, including day-to-day management services of the hotels for the franchisees; and sells hotel supplies and other products.