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

Shares of Albany International Corp. (NYSE:AIN) have earned an average rating of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $83.00.

Several brokerages have issued reports on AIN. Truist Financial boosted their price objective on shares of Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Robert W. Baird dropped their price target on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday. Bank of America lowered their price objective on Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a report on Friday, November 15th. JPMorgan Chase & Co. cut their target price on Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Finally, TD Cowen raised Albany International to a “strong-buy” rating in a report on Thursday, December 19th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Creative Planning lifted its position in shares of Albany International by 18.4% during the third quarter. Creative Planning now owns 5,941 shares of the textile maker’s stock worth $528,000 after purchasing an additional 923 shares during the last quarter. QRG Capital Management Inc. raised its stake in Albany International by 16.4% during the third quarter. QRG Capital Management Inc. now owns 4,025 shares of the textile maker’s stock valued at $358,000 after buying an additional 567 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Albany International by 6.6% in the 3rd quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker’s stock worth $52,071,000 after acquiring an additional 36,274 shares in the last quarter. Bridges Investment Management Inc. bought a new stake in shares of Albany International in the 3rd quarter valued at approximately $206,000. Finally, Entropy Technologies LP acquired a new stake in shares of Albany International during the 3rd quarter valued at approximately $245,000. Institutional investors and hedge funds own 97.37% of the company’s stock.

Albany International Stock Performance

Shares of AIN opened at $76.58 on Friday. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 23.93 and a beta of 1.34. Albany International has a 52-week low of $67.39 and a 52-week high of $97.60. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average price of $80.43 and a 200 day moving average price of $81.46.

Albany International (NYSE:AIN) last posted its earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share 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 firm had revenue of $286.91 million during the quarter, compared to analysts’ expectations of $299.52 million. Research analysts predict that Albany International will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 21st will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.41%. Albany International’s dividend payout ratio is currently 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.