Albany International (NYSE:AIN) Rating Lowered to Hold at StockNews.com

Albany International (NYSE:AIN) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Several other research analysts have also recently commented on the company. Truist Financial reduced their price target on Albany International from $104.00 to $101.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Bank of America decreased their target price on shares of Albany International from $95.00 to $90.00 and set an “underperform” rating for the company in a research note on Wednesday, May 29th. TD Cowen dropped their price target on shares of Albany International from $106.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. cut their price target on shares of Albany International from $98.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $95.50.

Albany International Stock Up 1.8 %

Shares of NYSE AIN traded up $1.57 during midday trading on Wednesday, reaching $87.40. The company’s stock had a trading volume of 263,295 shares, compared to its average volume of 145,371. The stock has a 50 day simple moving average of $86.59 and a 200-day simple moving average of $89.00. The company has a current ratio of 3.99, a quick ratio of 3.20 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 24.55, a PEG ratio of 2.65 and a beta of 1.26. Albany International has a fifty-two week low of $78.20 and a fifty-two week high of $99.41.

Albany International (NYSE:AIN) last issued its quarterly earnings results on Tuesday, August 6th. The textile maker reported $0.89 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.89. Albany International had a net margin of 9.35% and a return on equity of 13.40%. The firm had revenue of $331.99 million for the quarter, compared to analyst estimates of $318.17 million. During the same period in the previous year, the business earned $0.90 EPS. The company’s revenue was up 21.1% compared to the same quarter last year. Equities research analysts predict that Albany International will post 3.79 earnings per share for the current year.

Hedge Funds Weigh In On Albany International

Several large investors have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new stake in Albany International during the 4th quarter worth approximately $47,000. Whittier Trust Co. increased its position in Albany International by 94.7% during the 1st quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock worth $51,000 after buying an additional 266 shares during the period. Principal Securities Inc. acquired a new stake in shares of Albany International during the fourth quarter worth $77,000. Hilltop National Bank boosted its position in shares of Albany International by 14.7% in the second quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock valued at $88,000 after acquiring an additional 134 shares during the period. Finally, TFO Wealth Partners LLC grew its stake in shares of Albany International by 109,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,092 shares of the textile maker’s stock valued at $98,000 after acquiring an additional 1,091 shares in the last quarter. 97.37% of the stock is owned by institutional investors.

About Albany International

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.