Bank of America Boosts Atour Lifestyle (NASDAQ:ATAT) Price Target to $36.80

Atour Lifestyle (NASDAQ:ATAT) had its price target lifted by stock analysts at Bank of America from $35.30 to $36.80 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target would suggest a potential upside of 18.35% from the stock’s previous close.

A number of other equities research analysts have also commented on ATAT. The Goldman Sachs Group initiated 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 price objective on Atour Lifestyle and gave the company a “buy” rating in a research note on Thursday, March 6th.

Atour Lifestyle Price Performance

Shares of ATAT traded up $1.48 during mid-day trading on Friday, reaching $31.10. 369,067 shares of the company’s stock traded hands, compared to its average volume of 1,066,249. The stock’s 50-day moving average is $28.20 and its two-hundred day moving average is $26.15. The stock has a market cap of $4.28 billion, a P/E ratio of 26.84, a P/E/G ratio of 0.59 and a beta of 0.36. Atour Lifestyle has a 12 month low of $15.22 and a 12 month high of $33.32.

Hedge Funds Weigh In On Atour Lifestyle

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATAT. OLP CAPITAL MANAGEMENT Ltd lifted its stake in Atour Lifestyle by 17.1% in the 4th quarter. OLP CAPITAL MANAGEMENT Ltd now owns 7,202,395 shares of the company’s stock valued at $193,672,000 after buying an additional 1,052,822 shares in the last quarter. Bank of America Corp DE raised its position in shares of Atour Lifestyle by 8.3% in 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 purchasing an additional 269,656 shares in the last quarter. Man Group plc raised its stake in shares of Atour Lifestyle by 21.8% in the 4th quarter. Man Group plc now owns 2,051,797 shares of the company’s stock valued at $55,173,000 after purchasing an additional 366,872 shares in the last quarter. JPMorgan Chase & Co. grew its position in Atour Lifestyle by 39.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,413,593 shares of the company’s stock worth $38,012,000 after purchasing an additional 402,974 shares during the last quarter. Finally, Norges Bank acquired a new stake in Atour Lifestyle in the 4th quarter valued at approximately $36,489,000. Institutional investors and hedge funds own 17.79% of the company’s stock.

About Atour Lifestyle

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.