Atour Lifestyle (NASDAQ:ATAT) Stock Price Expected to Rise, Bank of America Analyst Says

Atour Lifestyle (NASDAQ:ATAT) had its price objective hoisted by equities research analysts at Bank of America from $35.30 to $36.80 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target points to a potential upside of 18.35% from the stock’s previous close.

Several other research analysts also recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of Atour Lifestyle in a report on Monday, December 9th. They set a “buy” rating and a $34.40 price objective on the stock. UBS Group set a $37.30 price objective on Atour Lifestyle and gave the stock a “buy” rating in a research note on Thursday, March 6th.

Atour Lifestyle Trading Up 5.0 %

ATAT stock traded up $1.48 during midday trading on Friday, reaching $31.10. The company had a trading volume of 369,067 shares, compared to its average volume of 1,066,249. The company has a market capitalization of $4.28 billion, a P/E ratio of 26.84, a PEG ratio of 0.59 and a beta of 0.36. Atour Lifestyle has a 1 year low of $15.22 and a 1 year high of $33.32. The company has a 50 day moving average of $28.20 and a two-hundred day moving average of $26.15.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp acquired a new position in Atour Lifestyle in the fourth quarter valued at $5,666,000. Public Employees Retirement System of Ohio boosted its position in Atour Lifestyle by 793.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 49,134 shares of the company’s stock worth $1,321,000 after purchasing an additional 43,634 shares during the period. Sylebra Capital LLC increased its position in shares of Atour Lifestyle by 12.0% in the fourth quarter. Sylebra Capital LLC now owns 1,245,593 shares of the company’s stock worth $33,494,000 after purchasing an additional 133,869 shares during the last quarter. Voloridge Investment Management LLC increased its holdings in shares of Atour Lifestyle by 120.2% in the 4th quarter. Voloridge Investment Management LLC now owns 1,028,543 shares of the company’s stock worth $27,658,000 after buying an additional 561,365 shares during the last quarter. Finally, Woodline Partners LP purchased a new stake in Atour Lifestyle during the fourth quarter valued at about $4,336,000. 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.