Albany International (NYSE:AIN) Stock Gets Price Target Bump from Truist Financial

Albany International (NYSE:AIN) had its price target raised by stock analysts at Truist Financial from $61.00 to $71.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the textile maker’s stock. Truist Financial‘s price objective points to a potential upside of 4.72% from the stock’s current price.

Several other research analysts have also recently commented on the stock. Weiss Ratings upgraded shares of Albany International from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday, November 3rd. JPMorgan Chase & Co. increased their price objective on shares of Albany International from $67.00 to $71.00 and gave the company a “neutral” rating in a research report on Friday, October 30th. Zacks Research upgraded shares of Albany International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 28th. Robert W. Baird raised their price objective on shares of Albany International from $64.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. Finally, Wall Street Zen cut shares of Albany International from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $72.33.

Albany International Stock Performance

Shares of Albany International stock opened at $67.80 on Friday. Albany International has a one year low of $41.15 and a one year high of $77.00. The company has a market cap of $1.93 billion, a PE ratio of 21.94, a P/E/G ratio of 1.63 and a beta of 1.15. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.89 and a current ratio of 2.41. The business has a 50-day simple moving average of $62.74 and a 200-day simple moving average of $62.31.

Albany International (NYSE:AIN) last released its earnings results on Wednesday, October 28th. The textile maker reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.20. The firm had revenue of $349.54 million for the quarter, compared to analyst estimates of $326.12 million. Albany International had a net margin of 6.73% and a return on equity of 14.25%. The business’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 earnings per share. On average, equities research analysts forecast that Albany International will post 3.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Albany International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP boosted its holdings in Albany International by 95.1% in the second quarter. Allworth Financial LP now owns 474 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 231 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Albany International by 25.5% during the third quarter. Nisa Investment Advisors LLC now owns 1,222 shares of the textile maker’s stock worth $73,000 after purchasing an additional 248 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Albany International by 25.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,286 shares of the textile maker’s stock worth $96,000 after buying an additional 260 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of Albany International by 62.6% during the 3rd quarter. Sterling Capital Management LLC now owns 691 shares of the textile maker’s stock worth $41,000 after buying an additional 266 shares during the last quarter. Finally, Cim Investment Management Inc. lifted its position in shares of Albany International by 7.4% during the 2nd quarter. Cim Investment Management Inc. now owns 5,780 shares of the textile maker’s stock worth $431,000 after buying an additional 399 shares during the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.

Albany International Company Profile

Albany International Corporation is a materials science and manufacturing company founded in 1895 as Albany Felt Company. It operates through two businesses: Machine Clothing and Albany Engineered Composites. Machine Clothing makes permeable fabrics and belts used in paper production, as well as products for paperboard, tissue and other industrial applications. Albany Engineered Composites designs and manufactures advanced composite structures and components, primarily for the aerospace and defense industries.