HSBC Upgrades Atour Lifestyle (NASDAQ:ATAT) to Strong-Buy

Atour Lifestyle (NASDAQ:ATAT) was upgraded by equities researchers at HSBC to a “strong-buy” rating in a research report issued on Wednesday, Zacks reports.

Several other equities research analysts have also recently issued reports on the stock. Zacks Research cut shares of Atour Lifestyle from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Wall Street Zen raised Atour Lifestyle from a “hold” rating to a “buy” rating in a research note on Sunday, September 13th. Finally, Weiss Ratings raised 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 assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $46.62.

Atour Lifestyle Stock Up 4.6%

ATAT opened at $33.07 on Wednesday. The company has a market cap of $4.55 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 0.84 and a beta of 0.66. Atour Lifestyle has a twelve month low of $30.77 and a twelve month high of $43.17. The company has a 50-day moving average price of $33.69 and a 200 day moving average price of $34.47.

Atour Lifestyle (NASDAQ:ATAT) last posted its quarterly earnings data on Thursday, August 20th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $513.74 million for the quarter, compared to analysts’ expectations of $484.56 million. Atour Lifestyle had a return on equity of 55.00% and a net margin of 16.75%. As a group, sell-side analysts expect that Atour Lifestyle will post 2.13 earnings per share for the current year.

Institutional Trading of Atour Lifestyle

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

About Atour Lifestyle

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.