Albany International (NYSE:AIN) PT Lowered to $104.00

Albany International (NYSE:AIN) had its price target decreased by research analysts at Truist Financial from $121.00 to $104.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the textile maker’s stock. Truist Financial’s target price indicates a potential upside of 30.41% from the company’s current price.

Separately, Bank of America reaffirmed an “underperform” rating and set a $95.00 target price (down previously from $105.00) on shares of Albany International in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Albany International presently has a consensus rating of “Moderate Buy” and an average price target of $106.25.

Albany International Trading Down 9.7 %

Shares of Albany International stock opened at $79.75 on Wednesday. Albany International has a 52-week low of $78.20 and a 52-week high of $99.41. The stock’s 50-day simple moving average is $91.20 and its 200 day simple moving average is $89.71. The stock has a market capitalization of $2.49 billion, a P/E ratio of 22.40, a P/E/G ratio of 2.28 and a beta of 1.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.85 and a current ratio of 3.53.

Albany International (NYSE:AIN) last posted its earnings results on Tuesday, April 30th. The textile maker reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $313.33 million during the quarter, compared to analyst estimates of $313.41 million. Albany International had a return on equity of 13.54% and a net margin of 9.35%. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 EPS. As a group, research analysts anticipate that Albany International will post 3.93 EPS for the current year.

Institutional Trading of Albany International

Hedge funds have recently bought and sold shares of the company. Earnest Partners LLC lifted its position in Albany International by 2.0% in the 3rd quarter. Earnest Partners LLC now owns 2,335,560 shares of the textile maker’s stock worth $201,512,000 after buying an additional 45,158 shares during the last quarter. Swiss National Bank lifted its position in Albany International by 1.0% in the third quarter. Swiss National Bank now owns 68,600 shares of the textile maker’s stock valued at $5,919,000 after purchasing an additional 700 shares during the last quarter. Sei Investments Co. lifted its position in Albany International by 12.7% in the third quarter. Sei Investments Co. now owns 488,258 shares of the textile maker’s stock valued at $42,127,000 after purchasing an additional 55,021 shares during the last quarter. Wellington Management Group LLP lifted its position in Albany International by 12.1% in the third quarter. Wellington Management Group LLP now owns 468,190 shares of the textile maker’s stock valued at $40,395,000 after purchasing an additional 50,653 shares during the last quarter. Finally, Stone Run Capital LLC bought a new stake in Albany International in the third quarter valued at approximately $699,000. 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.