Atour Lifestyle (NASDAQ:ATAT) to Repurchase $0.00 in Outstanding Stock

Atour Lifestyle (NASDAQ:ATAT) announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 22nd, RTT News reports. The company plans to buyback $0.00 in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Atour Lifestyle Price Performance

Shares of Atour Lifestyle stock opened at $32.86 on Friday. Atour Lifestyle has a one year low of $15.22 and a one year high of $34.23. The stock’s 50-day moving average is $26.80 and its 200 day moving average is $27.33. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 0.59 and a beta of 0.59.

Atour Lifestyle (NASDAQ:ATAT) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. The business had revenue of $285.58 million for the quarter, compared to analyst estimates of $275.49 million. Atour Lifestyle had a return on equity of 48.26% and a net margin of 17.43%. On average, sell-side analysts expect that Atour Lifestyle will post 1.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ATAT shares. Bank of America upped their target price on Atour Lifestyle from $35.30 to $36.80 and gave the company a “buy” rating in a research report on Friday, March 14th. Wall Street Zen upgraded Atour Lifestyle from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, UBS Group set a $37.30 target price on Atour Lifestyle and gave the company a “buy” rating in a research report on Thursday, March 6th.

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.