Bank of America Issues Pessimistic Forecast for Albany International (NYSE:AIN) Stock Price

Albany International (NYSE:AIN) had its target price decreased by analysts at Bank of America from $80.00 to $75.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “underperform” rating on the textile maker’s stock. Bank of America‘s target price suggests a potential upside of 2.16% from the stock’s previous close.

Several other equities analysts also recently issued reports on AIN. TD Cowen raised shares of Albany International to a “strong-buy” rating in a report on Thursday, December 19th. Truist Financial lifted their price target on shares of Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price target 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. StockNews.com lowered Albany International from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, Robert W. Baird decreased their price objective on Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.00.

Albany International Price Performance

AIN opened at $73.41 on Tuesday. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 22.94 and a beta of 1.37. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. Albany International has a 1 year low of $67.39 and a 1 year high of $96.49. The stock has a fifty day moving average price of $77.88 and a 200 day moving average price of $79.35.

Albany International (NYSE:AIN) last released its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.58 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $299.52 million. Analysts forecast that Albany International will post 3.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Albany International

A number of hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new position in shares of Albany International in the fourth quarter valued at about $40,000. Quarry LP grew 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 increased its holdings in Albany International by 306.7% during the 4th 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 during the period. Sterling Capital Management LLC raised its position in Albany International by 735.6% during the 4th quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker’s stock valued at $60,000 after purchasing an additional 662 shares during the last quarter. Finally, Vestcor Inc bought a new position in Albany International during the 4th quarter valued at approximately $70,000. Institutional investors 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.