Albany International (NYSE:AIN) Price Target Cut to $85.00 by Analysts at Truist Financial

Albany International (NYSE:AIN) had its price target lowered by analysts at Truist Financial from $91.00 to $85.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the textile maker’s stock. Truist Financial’s target price would suggest a potential upside of 22.25% from the company’s previous close.

A number of other research firms have also recently commented on AIN. TD Cowen decreased their target price on shares of Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a research report on Friday, October 4th. StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Albany International currently has an average rating of “Hold” and a consensus price target of $88.00.

Albany International Price Performance

Shares of AIN opened at $69.53 on Friday. The company has a 50 day moving average price of $81.30 and a 200-day moving average price of $85.19. Albany International has a fifty-two week low of $67.39 and a fifty-two week high of $99.41. The stock has a market capitalization of $2.17 billion, a PE ratio of 21.73, a PEG ratio of 2.36 and a beta of 1.25. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.87 and a current ratio of 3.59.

Albany International (NYSE:AIN) last announced its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.35. Albany International had a net margin of 7.92% and a return on equity of 12.28%. The firm had revenue of $298.40 million during the quarter, compared to analysts’ expectations of $304.51 million. During the same quarter in the prior year, the company earned $1.02 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. Equities analysts predict that Albany International will post 3.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AIN. BNP Paribas Financial Markets increased its stake in Albany International by 13.7% during the 1st quarter. BNP Paribas Financial Markets now owns 25,779 shares of the textile maker’s stock valued at $2,411,000 after purchasing an additional 3,104 shares in the last quarter. Whittier Trust Co. increased its stake in Albany International by 94.7% during the 1st quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock valued at $51,000 after purchasing an additional 266 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Albany International during the 1st quarter valued at approximately $128,000. GSA Capital Partners LLP increased its stake in Albany International by 201.8% during the 1st quarter. GSA Capital Partners LLP now owns 9,878 shares of the textile maker’s stock valued at $924,000 after purchasing an additional 6,605 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its stake in Albany International by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 27,306 shares of the textile maker’s stock valued at $2,553,000 after purchasing an additional 358 shares in the last quarter. Institutional investors and hedge funds 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.