Atour Lifestyle (NASDAQ:ATAT) Hits New 12-Month High – Time to Buy?

Shares of Atour Lifestyle Holdings Limited (NASDAQ:ATAT) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $30.86 and last traded at $29.78, with a volume of 127539 shares. The stock had previously closed at $29.00.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group started coverage on Atour Lifestyle in a report on Monday, December 9th. They issued a “buy” rating and a $34.40 price objective for the company.

Atour Lifestyle Trading Up 1.1 %

The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 0.51 and a beta of 0.45. The stock has a fifty day moving average of $27.09 and a 200-day moving average of $24.27.

Institutional Investors Weigh In On Atour Lifestyle

Large investors have recently added to or reduced their stakes in the stock. FMR LLC grew its position in Atour Lifestyle by 352.7% in the 3rd quarter. FMR LLC now owns 889,942 shares of the company’s stock worth $23,085,000 after purchasing an additional 693,342 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Atour Lifestyle during the third quarter worth about $1,251,000. XTX Topco Ltd increased its stake in Atour Lifestyle by 119.5% during the third quarter. XTX Topco Ltd now owns 46,638 shares of the company’s stock valued at $1,210,000 after acquiring an additional 25,390 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Atour Lifestyle in the 3rd quarter valued at approximately $2,741,000. Finally, JPMorgan Chase & Co. raised its holdings in Atour Lifestyle by 24.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,010,619 shares of the company’s stock valued at $26,215,000 after acquiring an additional 199,330 shares in the last quarter. Institutional investors own 17.79% of the company’s stock.

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.