Albany International (NYSE:AIN) Price Target Cut to $91.00

Albany International (NYSE:AIN) had its price target decreased by stock analysts at Truist Financial from $101.00 to $91.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the textile maker’s stock. Truist Financial’s target price points to a potential upside of 16.83% from the stock’s previous close.

Separately, StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $93.00.

Albany International Stock Down 10.4 %

NYSE:AIN traded down $9.03 during mid-day trading on Thursday, reaching $77.89. The stock had a trading volume of 101,027 shares, compared to its average volume of 144,028. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 2.42 and a beta of 1.26. Albany International has a 1-year low of $77.75 and a 1-year high of $99.41. The stock’s 50 day simple moving average is $88.52 and its two-hundred day simple moving average is $88.04. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.59 and a quick ratio of 2.87.

Albany International (NYSE:AIN) last posted its quarterly earnings results on Tuesday, August 6th. The textile maker reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Albany International had a return on equity of 13.13% and a net margin of 8.76%. The firm had revenue of $331.99 million during the quarter, compared to analyst estimates of $318.17 million. During the same quarter last year, the business posted $0.90 earnings per share. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. Equities analysts anticipate that Albany International will post 3.71 EPS for the current year.

Institutional Investors Weigh In On Albany International

A number of hedge funds have recently made changes to their positions in AIN. Central Pacific Bank Trust Division raised its holdings in Albany International by 40.3% during the third quarter. Central Pacific Bank Trust Division now owns 1,985 shares of the textile maker’s stock worth $176,000 after purchasing an additional 570 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Albany International during the second quarter worth approximately $1,182,000. Sanctuary Advisors LLC bought a new stake in Albany International during the second quarter worth approximately $1,322,000. Point72 Asset Management L.P. raised its holdings in Albany International by 119.2% during the second quarter. Point72 Asset Management L.P. now owns 5,700 shares of the textile maker’s stock worth $481,000 after purchasing an additional 3,100 shares in the last quarter. Finally, Creative Planning raised its holdings in Albany International by 3.0% during the second quarter. Creative Planning now owns 5,018 shares of the textile maker’s stock worth $424,000 after purchasing an additional 147 shares in the last quarter. Institutional investors own 97.37% of the company’s stock.

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.