Brokerages Set Albany International Corp. (NYSE:AIN) PT at $95.50

Albany International Corp. (NYSE:AIN) has earned a consensus rating of “Hold” from the four ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $95.50.

AIN has been the subject of several analyst reports. StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. cut their target price on Albany International from $98.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Bank of America lowered their price target on Albany International from $95.00 to $90.00 and set an “underperform” rating for the company in a research report on Wednesday, May 29th. Truist Financial cut their price objective on Albany International from $104.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Finally, TD Cowen decreased their target price on Albany International from $106.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, May 1st.

Hedge Funds Weigh In On Albany International

Several large investors have recently made changes to their positions in the stock. Strs Ohio grew its stake in shares of Albany International by 22.2% in the fourth quarter. Strs Ohio now owns 1,100 shares of the textile maker’s stock worth $108,000 after acquiring an additional 200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Albany International by 15.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,247 shares of the textile maker’s stock valued at $712,000 after purchasing an additional 987 shares in the last quarter. Linden Thomas Advisory Services LLC purchased a new stake in shares of Albany International during the 4th quarter worth $272,000. GAMMA Investing LLC purchased a new position in Albany International in the fourth quarter valued at $47,000. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of Albany International by 10.7% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 29,307 shares of the textile maker’s stock valued at $2,879,000 after acquiring an additional 2,821 shares during the last quarter. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Albany International Price Performance

Shares of AIN stock opened at $91.68 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.20 and a current ratio of 3.99. The stock has a 50 day moving average price of $87.66 and a 200 day moving average price of $88.98. Albany International has a 52-week low of $78.20 and a 52-week high of $99.41. The firm has a market capitalization of $2.86 billion, a P/E ratio of 25.75, a P/E/G ratio of 2.65 and a beta of 1.26.

Albany International (NYSE:AIN) last announced its quarterly earnings data on Tuesday, August 6th. The textile maker reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). The firm had revenue of $331.99 million during the quarter, compared to the consensus estimate of $318.17 million. Albany International had a return on equity of 13.40% and a net margin of 9.35%. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period last year, the company earned $0.90 EPS. As a group, sell-side analysts predict that Albany International will post 3.79 earnings per share for the current year.

Albany International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Tuesday, September 3rd. Albany International’s dividend payout ratio (DPR) is presently 29.21%.

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.