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

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

Several other equities analysts have also recently issued reports on the company. Zacks Research cut Atour Lifestyle from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Wall Street Zen upgraded Atour Lifestyle from a “hold” rating to a “buy” rating in a report 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 equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $46.62.

Atour Lifestyle Stock Up 4.6%

Shares of NASDAQ ATAT opened at $33.07 on Wednesday. Atour Lifestyle has a fifty-two week low of $30.77 and a fifty-two week high of $43.17. The firm’s 50-day simple moving average is $33.69 and its 200 day simple moving average is $34.47. The stock has a market cap of $4.55 billion, a P/E ratio of 16.29, a P/E/G ratio of 0.84 and a beta of 0.66.

Atour Lifestyle (NASDAQ:ATAT) last issued its quarterly earnings results on Thursday, August 20th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $513.74 million during 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%. On average, sell-side analysts anticipate that Atour Lifestyle will post 2.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atour Lifestyle

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. WFM ASIA BVI Ltd acquired a new position in Atour Lifestyle during the second quarter worth $99,575,000. CI Investments Inc. acquired a new stake in shares of Atour Lifestyle in the first quarter worth about $14,028,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Atour Lifestyle in the first quarter worth about $10,171,000. Hsbc Holdings PLC bought a new stake in shares of Atour Lifestyle during the 4th quarter worth about $7,430,000. Finally, Wellington Management Group LLP boosted its stake in shares of Atour Lifestyle by 116.8% during the 2nd 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. Institutional investors and hedge funds own 17.79% of the company’s stock.

Atour Lifestyle Company Profile

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.