Albany International Corp. (NYSE:AIN) Receives $110.50 Consensus Price Target from Analysts

Shares of Albany International Corp. (NYSE:AIN) have earned an average rating of “Moderate Buy” from the four brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $110.50.

Several brokerages have issued reports on AIN. Truist Financial boosted their target price on Albany International from $105.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Bank of America reiterated an “underperform” rating and issued a $95.00 target price (down previously from $105.00) on shares of Albany International in a research note on Thursday, March 28th.

Albany International Trading Up 0.3 %

AIN opened at $87.68 on Monday. The stock has a 50-day moving average of $91.56 and a 200 day moving average of $89.73. Albany International has a 12 month low of $78.20 and a 12 month high of $99.41. The firm has a market cap of $2.74 billion, a P/E ratio of 24.70, a P/E/G ratio of 2.26 and a beta of 1.25. The company has a current ratio of 3.53, a quick ratio of 2.85 and a debt-to-equity ratio of 0.47.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Tuesday, February 27th. The textile maker reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.38. Albany International had a net margin of 9.68% and a return on equity of 13.70%. The business had revenue of $323.60 million for the quarter, compared to analysts’ expectations of $298.17 million. During the same quarter in the previous year, the business posted $0.75 earnings per share. The business’s revenue was up 20.4% compared to the same quarter last year. As a group, research analysts forecast that Albany International will post 3.93 EPS for the current year.

Albany International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Thursday, March 14th. Albany International’s dividend payout ratio (DPR) is presently 29.30%.

Institutional Investors Weigh In On Albany International

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Albany International by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 3,518,426 shares of the textile maker’s stock worth $345,580,000 after buying an additional 38,446 shares in the last quarter. Earnest Partners LLC boosted its position in Albany International by 2.0% during the third quarter. Earnest Partners LLC now owns 2,335,560 shares of the textile maker’s stock valued at $201,512,000 after purchasing an additional 45,158 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in Albany International by 0.8% in the third quarter. Loomis Sayles & Co. L P now owns 717,724 shares of the textile maker’s stock worth $61,925,000 after purchasing an additional 5,374 shares in the last quarter. Sei Investments Co. lifted its position in shares of Albany International by 37.2% during the fourth quarter. Sei Investments Co. now owns 670,072 shares of the textile maker’s stock valued at $65,814,000 after buying an additional 181,814 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in shares of Albany International by 6.5% in the 4th quarter. Clearbridge Investments LLC now owns 598,038 shares of the textile maker’s stock worth $58,739,000 after buying an additional 36,254 shares during the last quarter. Institutional investors own 97.37% of the company’s stock.

Albany International Company Profile

Albany International Corp., together with its subsidiaries, engages in the machine clothing and engineered composites businesses. The company operates in two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing for use in the manufacturing of papers, paperboards, tissues, towels, pulps, nonwovens, building products, tannery, and textiles, as well as fiber cement and several other industrial applications.