Albany International Corp. (NYSE:AIN) Receives $83.00 Average Price Target from Brokerages

Albany International Corp. (NYSE:AIN) has been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $82.00.

Several equities research analysts have recently commented on the stock. StockNews.com cut shares of Albany International from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. TD Cowen upgraded shares of Albany International to a “strong-buy” rating in a report on Thursday, December 19th. Bank of America reduced their target price on Albany International from $80.00 to $75.00 and set an “underperform” rating on the stock in a report on Tuesday. Truist Financial increased their target price on Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, Robert W. Baird reduced their price target on Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th.

Institutional Investors Weigh In On Albany International

Institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new position in Albany International in the 4th quarter valued at approximately $40,000. Quarry LP raised its stake in shares of Albany International by 515.4% in the third quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after purchasing an additional 402 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Albany International by 306.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock valued at $53,000 after purchasing an additional 503 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of Albany International by 735.6% during the fourth quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker’s stock valued at $60,000 after buying an additional 662 shares during the last quarter. Finally, Vestcor Inc bought a new stake in Albany International in the 4th quarter worth about $70,000. Institutional investors own 97.37% of the company’s stock.

Albany International Price Performance

Shares of Albany International stock opened at $72.15 on Tuesday. The company’s fifty day simple moving average is $77.70 and its two-hundred day simple moving average is $79.30. Albany International has a 12-month low of $67.39 and a 12-month high of $95.47. The firm has a market cap of $2.23 billion, a PE ratio of 22.55 and a beta of 1.37. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36.

Albany International (NYSE:AIN) last posted its earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.05). Albany International had a net margin of 7.92% and a return on equity of 12.20%. The business had revenue of $286.91 million for the quarter, compared to analysts’ expectations of $299.52 million. As a group, equities analysts expect that Albany International will post 3.23 EPS for the current year.

Albany International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 21st will be paid a $0.27 dividend. The ex-dividend date is Friday, March 21st. This represents a $1.08 annualized dividend and a dividend yield of 1.50%. Albany International’s dividend payout ratio is presently 38.71%.

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.