Atour Lifestyle (NASDAQ:ATAT) Shares Gap Up – Still a Buy?

Atour Lifestyle Holdings Limited (NASDAQ:ATAT)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $23.00, but opened at $23.76. Atour Lifestyle shares last traded at $23.66, with a volume of 920,255 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Bank of America lifted their target price on shares of Atour Lifestyle from $35.30 to $36.80 and gave the stock a “buy” rating in a research report on Friday, March 14th. UBS Group set a $37.30 price objective on Atour Lifestyle and gave the company a “buy” rating in a research report on Thursday, March 6th.

Atour Lifestyle Price Performance

The company’s 50-day simple moving average is $28.82 and its two-hundred day simple moving average is $27.43. The firm has a market capitalization of $3.06 billion, a P/E ratio of 19.15, a P/E/G 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, topping the consensus estimate of $0.30 by $0.03. The firm had revenue of $285.58 million for the quarter, compared to the consensus estimate of $275.49 million. Atour Lifestyle had a return on equity of 48.26% and a net margin of 17.43%. Analysts predict that Atour Lifestyle Holdings Limited will post 1.24 earnings per share for the current year.

Hedge Funds Weigh In On Atour Lifestyle

Large investors have recently made changes to their positions in the business. OLP CAPITAL MANAGEMENT Ltd raised its stake in Atour Lifestyle by 17.1% during the 4th quarter. OLP CAPITAL MANAGEMENT Ltd now owns 7,202,395 shares of the company’s stock valued at $193,672,000 after purchasing an additional 1,052,822 shares during the period. Bank of America Corp DE grew its holdings in Atour Lifestyle by 8.3% during the 4th quarter. Bank of America Corp DE now owns 3,534,543 shares of the company’s stock valued at $95,044,000 after buying an additional 269,656 shares in the last quarter. Man Group plc raised its position in shares of Atour Lifestyle by 21.8% during the fourth quarter. Man Group plc now owns 2,051,797 shares of the company’s stock valued at $55,173,000 after buying an additional 366,872 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Atour Lifestyle by 39.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,413,593 shares of the company’s stock worth $38,012,000 after buying an additional 402,974 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Atour Lifestyle during the fourth quarter worth $36,489,000. 17.79% of the stock is currently owned by hedge funds and other institutional investors.

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.