Atour Lifestyle (NASDAQ:ATAT) Price Target Raised to $36.80

Atour Lifestyle (NASDAQ:ATAT) had its target price increased by investment analysts at Bank of America from $35.30 to $36.80 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price objective points to a potential upside of 17.76% from the stock’s previous close.

A number of other brokerages have also commented on ATAT. The Goldman Sachs Group began coverage on Atour Lifestyle in a research report on Monday, December 9th. They issued a “buy” rating and a $34.40 target price on the stock. UBS Group set a $37.30 target price on Atour Lifestyle and gave the company a “buy” rating in a research report on Thursday, March 6th.

Atour Lifestyle Stock Up 5.5 %

Shares of NASDAQ ATAT opened at $31.25 on Friday. The business’s 50 day moving average price is $28.29 and its 200 day moving average price is $26.32. The firm has a market cap of $4.30 billion, a P/E ratio of 26.94, a P/E/G ratio of 0.59 and a beta of 0.36. Atour Lifestyle has a 52 week low of $15.22 and a 52 week high of $33.32.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. OLP CAPITAL MANAGEMENT Ltd lifted its holdings in 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 during the period. Bank of America Corp DE lifted its holdings in 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 during the period. Man Group plc lifted its holdings in Atour Lifestyle by 21.8% in the fourth quarter. Man Group plc now owns 2,051,797 shares of the company’s stock valued at $55,173,000 after acquiring an additional 366,872 shares during the period. JPMorgan Chase & Co. lifted its holdings in Atour Lifestyle by 39.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,413,593 shares of the company’s stock valued at $38,012,000 after acquiring an additional 402,974 shares during the period. Finally, Norges Bank acquired a new position in shares of Atour Lifestyle during the 4th quarter worth approximately $36,489,000. 17.79% of the stock is owned by institutional investors and hedge funds.

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.