Bank of America Issues Positive Forecast for Atour Lifestyle (NASDAQ:ATAT) Stock Price

Atour Lifestyle (NASDAQ:ATAT) had its price target hoisted by Bank of America from $35.30 to $36.80 in a research report released on Friday,Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on ATAT. The Goldman Sachs Group started coverage on shares of Atour Lifestyle in a research report on Monday, December 9th. They set a “buy” rating and a $34.40 target price for the company. UBS Group set a $37.30 target price on shares of Atour Lifestyle and gave the stock a “buy” rating in a research report on Thursday, March 6th.

Atour Lifestyle Stock Performance

NASDAQ:ATAT opened at $31.25 on Friday. The company has a 50-day moving average of $28.29 and a 200-day moving average of $26.25. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 0.59 and a beta of 0.36. Atour Lifestyle has a 52 week low of $15.22 and a 52 week high of $33.32.

Institutional Investors Weigh In On Atour Lifestyle

A number of hedge funds have recently made changes to their positions in the company. Loomis Sayles & Co. L P acquired a new stake in Atour Lifestyle in the 3rd quarter valued at about $34,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Atour Lifestyle during the 3rd quarter worth approximately $143,000. Pictet Asset Management Holding SA acquired a new stake in shares of Atour Lifestyle during the 4th quarter worth approximately $155,000. AdvisorShares Investments LLC acquired a new stake in shares of Atour Lifestyle during the 4th quarter worth approximately $188,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Atour Lifestyle during the 4th quarter worth approximately $213,000. 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.