Atour Lifestyle (NASDAQ:ATAT) Stock Price Down 3% – Here’s What Happened

Atour Lifestyle Holdings Limited (NASDAQ:ATAT)’s stock price was down 3% on Wednesday . The stock traded as low as $22.58 and last traded at $23.29. Approximately 1,840,298 shares were traded during trading, an increase of 61% from the average daily volume of 1,146,537 shares. The stock had previously closed at $24.02.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ATAT shares. UBS Group set a $37.30 target price on shares of Atour Lifestyle and gave the company a “buy” rating in a report on Thursday, March 6th. Bank of America raised their price objective on Atour Lifestyle from $35.30 to $36.80 and gave the stock a “buy” rating in a report on Friday, March 14th.

Atour Lifestyle Price Performance

The business’s 50-day moving average price is $28.82 and its 200-day moving average price is $27.43. The firm has a market capitalization of $3.06 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 0.59 and a beta of 0.51.

Atour Lifestyle (NASDAQ:ATAT) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Atour Lifestyle had a net margin of 17.43% and a return on equity of 48.26%. The company had revenue of $285.58 million for the quarter, compared to analyst estimates of $275.49 million. Equities analysts forecast that Atour Lifestyle Holdings Limited will post 1.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ATAT. Public Employees Retirement System of Ohio acquired a new position in Atour Lifestyle in the 3rd quarter valued at $143,000. Pictet Asset Management Holding SA acquired a new position in shares of Atour Lifestyle during the fourth quarter worth about $155,000. AdvisorShares Investments LLC purchased a new position in Atour Lifestyle during the fourth quarter worth about $188,000. Cornerstone Investment Partners LLC acquired a new stake in Atour Lifestyle in the fourth quarter valued at about $213,000. Finally, Deutsche Bank AG purchased a new stake in Atour Lifestyle in the 4th quarter valued at approximately $235,000. Institutional investors and hedge funds 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.