Atour Lifestyle (NASDAQ:ATAT) Stock Rating Upgraded by Wall Street Zen

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

ATAT has been the topic of a number of other research reports. UBS Group set a $37.30 price target on Atour Lifestyle and gave the company a "buy" rating in a research report on Thursday, March 6th. Citigroup reaffirmed 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, Bank of America upped their price target on Atour Lifestyle from $35.30 to $36.80 and gave the company a "buy" rating in a research report on Friday, March 14th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $36.63.

Atour Lifestyle Stock Performance

NASDAQ:ATAT traded down $0.24 during trading on Friday, reaching $32.51. The company's stock had a trading volume of 1,446,429 shares, compared to its average volume of 1,265,902. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. The firm has a 50 day moving average of $29.34 and a 200-day moving average of $28.29. Atour Lifestyle has a 12 month low of $15.22 and a 12 month high of $34.23.

Atour Lifestyle announced that its Board of Directors has initiated a share repurchase program on Thursday, May 22nd that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Institutional Trading of Atour Lifestyle

A number of institutional investors have recently added to or reduced their stakes in the stock. Woodline Partners LP lifted its holdings in Atour Lifestyle by 48.6% during the 1st quarter. Woodline Partners LP now owns 239,547 shares of the company's stock worth $6,791,000 after purchasing an additional 78,303 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of Atour Lifestyle in the 1st quarter valued at about $658,000. Goldman Sachs Group Inc. raised its holdings in shares of Atour Lifestyle by 1.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,437,014 shares of the company's stock valued at $40,739,000 after acquiring an additional 14,453 shares in the last quarter. Think Investments LP raised its holdings in shares of Atour Lifestyle by 264.1% in the 1st quarter. Think Investments LP now owns 695,487 shares of the company's stock valued at $19,717,000 after acquiring an additional 504,487 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Atour Lifestyle by 4.4% in the 1st quarter. Millennium Management LLC now owns 921,837 shares of the company's stock valued at $26,134,000 after acquiring an additional 38,565 shares in the last quarter. 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.