Atour Lifestyle (NASDAQ:ATAT) Cut to "Hold" at Wall Street Zen

Wall Street Zen downgraded shares of Atour Lifestyle (NASDAQ:ATAT - Free Report) from a buy rating to a hold rating in a research report report published on Saturday.

Other analysts also recently issued research reports about the stock. Bank of America increased their target price on shares of Atour Lifestyle from $35.30 to $36.80 and gave the stock a "buy" rating in a research report on Friday, March 14th. Citigroup restated a "buy" rating and set a $38.00 target price (up previously from $36.50) on shares of Atour Lifestyle in a report on Friday, May 23rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $36.63.

Atour Lifestyle Stock Performance

ATAT traded up $0.30 during trading on Friday, hitting $35.81. The stock had a trading volume of 511,479 shares, compared to its average volume of 1,289,443. The stock has a 50 day simple moving average of $31.41 and a two-hundred day simple moving average of $28.75. Atour Lifestyle has a twelve month low of $15.22 and a twelve month high of $37.46. The company has a market capitalization of $4.95 billion, a PE ratio of 28.51, a PEG ratio of 1.01 and a beta of 0.82.

Atour Lifestyle Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were issued a dividend of $0.42 per share. This represents a yield of 1.3%. This is a positive change from Atour Lifestyle's previous annual dividend of $0.40. The ex-dividend date of this dividend was Monday, June 2nd. Atour Lifestyle's dividend payout ratio (DPR) is presently 30.95%.

Atour Lifestyle announced that its board has approved a share repurchase program on Thursday, May 22nd that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Hedge Funds Weigh In On Atour Lifestyle

Several institutional investors and hedge funds have recently bought and sold shares of ATAT. Victory Capital Management Inc. purchased a new stake in Atour Lifestyle during the fourth quarter worth about $750,000. HighTower Advisors LLC bought a new position in shares of Atour Lifestyle in the 4th quarter worth about $512,000. William Blair Investment Management LLC bought a new stake in Atour Lifestyle in the 4th quarter valued at about $24,433,000. Trivest Advisors Ltd acquired a new position in shares of Atour Lifestyle in the fourth quarter worth about $457,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Atour Lifestyle during the fourth quarter worth approximately $1,090,000. 17.79% of the stock is currently owned by institutional investors and hedge funds.

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.