Truist Financial Issues Positive Forecast for Albany International (NYSE:AIN) Stock Price

Albany International (NYSE:AIN) had its target price lifted by research analysts at Truist Financial from $85.00 to $88.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the textile maker’s stock. Truist Financial’s price objective suggests a potential upside of 9.52% from the company’s current price.

A number of other brokerages also recently commented on AIN. TD Cowen upgraded Albany International to a “strong-buy” rating in a research note on Thursday, December 19th. Bank of America lowered their price objective on Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a research note on Friday, November 15th. Finally, StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Albany International has a consensus rating of “Hold” and a consensus price target of $80.75.

Albany International Trading Down 0.7 %

Shares of AIN opened at $80.35 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. Albany International has a one year low of $67.39 and a one year high of $98.73. The stock has a 50-day moving average price of $81.41 and a 200 day moving average price of $83.08. The company has a market capitalization of $2.51 billion, a P/E ratio of 25.11 and a beta of 1.35.

Albany International (NYSE:AIN) last announced its quarterly earnings data 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. The company had revenue of $298.40 million during the quarter, compared to analyst estimates of $304.51 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the business earned $1.02 EPS. Sell-side analysts forecast that Albany International will post 3.23 EPS for the current fiscal year.

Insider Activity

In other news, CEO Gunnar Kleveland bought 1,400 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were purchased at an average cost of $71.25 per share, with a total value of $99,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 8,284 shares in the company, valued at approximately $590,235. The trade was a 20.34 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joseph M. Gaug acquired 1,000 shares of Albany International stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average price of $71.24 per share, with a total value of $71,240.00. Following the transaction, the vice president now owns 6,811 shares in the company, valued at approximately $485,215.64. This represents a 17.21 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 3,450 shares of company stock worth $245,813 over the last three months. Corporate insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Integrated Investment Consultants LLC lifted its holdings in shares of Albany International by 3.3% during the fourth quarter. Integrated Investment Consultants LLC now owns 4,825 shares of the textile maker’s stock valued at $386,000 after purchasing an additional 155 shares during the last quarter. Procyon Advisors LLC acquired a new position in Albany International in the 4th quarter worth approximately $365,000. Wealth Enhancement Advisory Services LLC purchased a new position in Albany International during the 4th quarter worth approximately $226,000. Diversified Trust Co raised its stake in Albany International by 5.4% during the 4th quarter. Diversified Trust Co now owns 10,701 shares of the textile maker’s stock valued at $856,000 after purchasing an additional 551 shares during the period. Finally, Central Pacific Bank Trust Division grew its holdings in shares of Albany International by 16.1% during the fourth quarter. Central Pacific Bank Trust Division now owns 2,305 shares of the textile maker’s stock valued at $184,000 after buying an additional 320 shares in the last quarter. 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.