Albany International Corp. (NYSE:AIN) Receives $85.50 Average PT from Brokerages

Albany International Corp. (NYSE:AIN) has been given an average rating of “Hold” by the four ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $85.50.

Several equities analysts have recently issued reports on the company. Truist Financial reduced their target price on Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Bank of America dropped their price target on Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a research report on Friday, November 15th. TD Cowen dropped their price target on Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Finally, StockNews.com lowered Albany International from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st.

Insider Buying and Selling

In other news, CEO Gunnar Kleveland purchased 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was bought at an average cost of $71.25 per share, with a total value of $99,750.00. Following the completion of the purchase, the chief executive officer now owns 8,284 shares in the company, valued at approximately $590,235. This represents a 20.34 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Joseph M. Gaug purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were purchased at an average cost of $71.24 per share, with a total value of $71,240.00. Following the completion of the purchase, the vice president now owns 6,811 shares of the company’s stock, valued at $485,215.64. The trade was a 17.21 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 3,450 shares of company stock worth $245,813. 0.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Albany International

Several institutional investors have recently modified their holdings of AIN. Victory Capital Management Inc. lifted its stake in shares of Albany International by 5,971.5% in the 2nd quarter. Victory Capital Management Inc. now owns 683,895 shares of the textile maker’s stock valued at $57,755,000 after purchasing an additional 672,631 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Albany International by 60.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 161,340 shares of the textile maker’s stock valued at $14,335,000 after purchasing an additional 60,812 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of Albany International by 2.1% in the 2nd quarter. Earnest Partners LLC now owns 2,592,787 shares of the textile maker’s stock valued at $218,961,000 after purchasing an additional 53,743 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Albany International by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker’s stock worth $92,192,000 after buying an additional 52,909 shares during the period. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Albany International by 176.9% in the second quarter. Cubist Systematic Strategies LLC now owns 66,900 shares of the textile maker’s stock worth $5,650,000 after buying an additional 42,740 shares during the period. 97.37% of the stock is owned by institutional investors.

Albany International Price Performance

Shares of Albany International stock opened at $80.40 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The business’s 50 day simple moving average is $78.22 and its two-hundred day simple moving average is $84.23. The stock has a market capitalization of $2.52 billion, a P/E ratio of 25.13 and a beta of 1.34. Albany International has a one year low of $67.39 and a one year high of $99.41.

Albany International (NYSE:AIN) last posted its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.35. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The firm had revenue of $298.40 million for the quarter, compared to analysts’ expectations of $304.51 million. During the same period in the previous year, the firm earned $1.02 earnings per share. The business’s revenue was up 6.2% compared to the same quarter last year. Analysts forecast that Albany International will post 3.23 EPS for the current year.

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.