Albany International (NYSE:AIN) Price Target Cut to $81.00 by Analysts at TD Cowen

Albany International (NYSE:AIN) had its target price decreased by research analysts at TD Cowen from $95.00 to $81.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the textile maker’s stock. TD Cowen’s target price would indicate a potential upside of 3.33% from the company’s previous close.

AIN has been the topic of several other reports. StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Truist Financial reduced their price objective on shares of Albany International from $101.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday. One investment 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. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $89.50.

Albany International Trading Up 1.4 %

Albany International stock traded up $1.06 during midday trading on Friday, reaching $78.39. 67,166 shares of the stock traded hands, compared to its average volume of 144,479. The company has a current ratio of 3.59, a quick ratio of 2.87 and a debt-to-equity ratio of 0.38. The firm has a market cap of $2.45 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 2.42 and a beta of 1.25. The company has a 50-day simple moving average of $88.23 and a two-hundred day simple moving average of $87.96. Albany International has a 12-month low of $77.07 and a 12-month high of $99.41.

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

Hedge Funds Weigh In On Albany International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hilltop National Bank grew its holdings in shares of Albany International by 14.7% during the second quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock worth $88,000 after buying an additional 134 shares in the last quarter. GAMMA Investing LLC grew its holdings in Albany International by 27.4% in the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock valued at $57,000 after purchasing an additional 145 shares during the period. Creative Planning grew its stake 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 buying an additional 147 shares during the period. Arizona State Retirement System grew its stake in Albany International by 2.0% during the second quarter. Arizona State Retirement System now owns 8,744 shares of the textile maker’s stock worth $738,000 after buying an additional 175 shares during the period. Finally, Dakota Wealth Management grew its stake in Albany International by 1.5% during the second quarter. Dakota Wealth Management now owns 13,211 shares of the textile maker’s stock worth $1,116,000 after buying an additional 195 shares during the period. 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.