Atour Lifestyle (NASDAQ:ATAT) Stock Rated “Buy” in New Coverage at HSBC

Research analysts at HSBC assumed coverage on shares of Atour Lifestyle (NASDAQ:ATAT) in a report released on Wednesday, Marketbeat reports. The brokerage set a “buy” rating and a $39.70 price target on the stock. HSBC’s price objective indicates a potential upside of 20.05% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Wall Street Zen upgraded shares of Atour Lifestyle from a “hold” rating to a “buy” rating in a report on Sunday, September 13th. Weiss Ratings upgraded shares of Atour Lifestyle from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Finally, Zacks Research lowered shares of Atour Lifestyle from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $46.62.

Atour Lifestyle Stock Performance

ATAT opened at $33.07 on Wednesday. The firm’s fifty day moving average is $33.69 and its two-hundred day moving average is $34.46. The firm has a market cap of $4.55 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 0.88 and a beta of 0.66. Atour Lifestyle has a twelve month low of $30.77 and a twelve month high of $43.17.

Atour Lifestyle (NASDAQ:ATAT) last posted its earnings results on Thursday, August 20th. The company reported $0.59 earnings per share 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 analyst estimates of $484.56 million. Atour Lifestyle had a net margin of 16.75% and a return on equity of 55.00%. Equities analysts forecast that Atour Lifestyle will post 2.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Atour Lifestyle

Large investors have recently made changes to their positions in the stock. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Atour Lifestyle during the second quarter worth $1,022,000. Wellington Management Group LLP increased its position in shares of Atour Lifestyle by 116.8% during the second quarter. Wellington Management Group LLP now owns 348,174 shares of the company’s stock worth $11,072,000 after acquiring an additional 187,608 shares in the last quarter. AIA Group Ltd increased its position in shares of Atour Lifestyle by 25.6% during the first quarter. AIA Group Ltd now owns 180,407 shares of the company’s stock worth $6,641,000 after acquiring an additional 36,735 shares in the last quarter. Matthews International Capital Management LLC increased its position in shares of Atour Lifestyle by 33.8% during the first quarter. Matthews International Capital Management LLC now owns 219,378 shares of the company’s stock worth $8,075,000 after acquiring an additional 55,389 shares in the last quarter. Finally, Temasek Holdings Private Ltd bought a new stake in shares of Atour Lifestyle during the first quarter worth $2,880,000. Institutional investors own 17.79% of the company’s stock.

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.