Atour Lifestyle (NASDAQ:ATAT) Stock Rating Raised to Strong-Buy at HSBC

HSBC upgraded shares of Atour Lifestyle (NASDAQ:ATAT) to a strong-buy rating in a research note released on Wednesday morning,Zacks reports.

Several other brokerages also recently issued reports on ATAT. Zacks Research downgraded Atour Lifestyle from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Wall Street Zen raised Atour Lifestyle from a “hold” rating to a “buy” rating in a research report on Sunday, September 13th. Finally, Weiss Ratings upgraded Atour Lifestyle from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $46.62.

Atour Lifestyle Stock Up 4.6%

Shares of NASDAQ:ATAT opened at $33.07 on Wednesday. The company has a market cap of $4.55 billion, a PE ratio of 16.29, a P/E/G ratio of 0.84 and a beta of 0.66. Atour Lifestyle has a fifty-two week low of $30.77 and a fifty-two week high of $43.17. The firm has a 50-day simple moving average of $33.69 and a 200 day simple moving average of $34.47.

Atour Lifestyle (NASDAQ:ATAT) last issued its earnings results on Thursday, August 20th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $513.74 million during the quarter, compared to the consensus estimate of $484.56 million. Atour Lifestyle had a return on equity of 55.00% and a net margin of 16.75%. As a group, research analysts forecast that Atour Lifestyle will post 2.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Atour Lifestyle

Hedge funds and other institutional investors have recently made changes to their positions in the business. OLP CAPITAL MANAGEMENT Ltd raised its stake in Atour Lifestyle by 1.5% during the 4th quarter. OLP CAPITAL MANAGEMENT Ltd now owns 8,656,494 shares of the company’s stock valued at $341,066,000 after acquiring an additional 131,886 shares in the last quarter. WFM ASIA BVI Ltd bought a new position in shares of Atour Lifestyle in the second quarter worth $99,575,000. Principal Financial Group Inc. grew its stake in shares of Atour Lifestyle by 19.9% in the first quarter. Principal Financial Group Inc. now owns 977,996 shares of the company’s stock worth $36,000,000 after purchasing an additional 162,574 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Atour Lifestyle by 3.6% during the first quarter. Lazard Asset Management LLC now owns 434,608 shares of the company’s stock valued at $15,998,000 after purchasing an additional 15,214 shares during the period. Finally, CI Investments Inc. bought a new position in Atour Lifestyle in the 1st quarter valued at about $14,028,000. 17.79% of the stock is currently owned by institutional investors and hedge funds.

Atour Lifestyle Company Profile

Atour Lifestyle Holdings Limited is a hospitality and lifestyle company headquartered in Shanghai, China. Founded in 2013, the company operates a portfolio of hotel brands designed to combine accommodation with localized cultural and lifestyle experiences.

Its hotel offerings include the Atour, Atour S, Atour Light, Atour X and other brand concepts serving different customer preferences and travel occasions. Atour also develops complementary products and services, including bedding, pillows, mattresses and other lifestyle goods sold through its hotels and online retail channels.

Atour primarily serves the Chinese market, with hotels located across major cities and other destinations in mainland China.