Wall Street Zen Downgrades Atour Lifestyle (NASDAQ:ATAT) to Hold

Atour Lifestyle (NASDAQ:ATAT - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "hold" rating in a research note issued on Friday.

Other analysts also recently issued research reports about the company. Bank of America upped their target price on Atour Lifestyle from $35.30 to $36.80 and gave the stock a "buy" rating in a research note on Friday, March 14th. Citigroup reiterated a "buy" rating and set a $38.00 price target (up previously from $36.50) on shares of Atour Lifestyle in a research report on Friday, May 23rd. Finally, UBS Group set a $37.30 price target on Atour Lifestyle and gave the stock a "buy" rating in a research report on Thursday, March 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $36.63.

Atour Lifestyle Stock Down 1.4%

Shares of ATAT traded down $0.45 during mid-day trading on Friday, reaching $31.44. The company had a trading volume of 2,024,619 shares, compared to its average volume of 1,277,575. Atour Lifestyle has a 52-week low of $15.22 and a 52-week high of $34.23. The stock has a market capitalization of $4.34 billion, a P/E ratio of 27.10, a PEG ratio of 0.59 and a beta of 0.59. The stock has a 50 day moving average of $26.98 and a two-hundred day moving average of $27.54.

Atour Lifestyle (NASDAQ:ATAT - Get Free Report) last issued its earnings results on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.03. Atour Lifestyle had a return on equity of 48.26% and a net margin of 17.43%. The firm had revenue of $285.58 million for the quarter, compared to the consensus estimate of $275.49 million. On average, sell-side analysts expect that Atour Lifestyle will post 1.24 earnings per share for the current year.

Atour Lifestyle declared that its board has authorized a stock repurchase plan on Thursday, May 22nd that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Atour Lifestyle

Several hedge funds and other institutional investors have recently made changes to their positions in the company. OLP CAPITAL MANAGEMENT Ltd lifted its position in shares of Atour Lifestyle by 17.1% in the fourth quarter. OLP CAPITAL MANAGEMENT Ltd now owns 7,202,395 shares of the company's stock valued at $193,672,000 after acquiring an additional 1,052,822 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Atour Lifestyle by 1,544.1% in the first 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 in the last quarter. Bank of America Corp DE lifted its position in shares of Atour Lifestyle by 8.3% in the fourth 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Atour Lifestyle by 3,189.8% in the first 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 in the last quarter. Finally, Principal Financial Group Inc. acquired a new position in shares of Atour Lifestyle during the 1st quarter worth approximately $68,322,000. Hedge funds and other institutional investors own 17.79% of the company's stock.

Atour Lifestyle Company Profile

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.