Albany International (NYSE:AIN) PT Lowered to $91.00

Albany International (NYSE:AIN) had its price objective reduced by equities research analysts at Truist Financial from $101.00 to $91.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the textile maker’s stock. Truist Financial’s target price points to a potential upside of 17.09% from the stock’s current price.

Separately, StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $89.50.

Albany International Trading Up 0.5 %

Shares of AIN opened at $77.72 on Thursday. The firm’s 50 day simple moving average is $87.95 and its 200 day simple moving average is $87.87. The company has a market capitalization of $2.42 billion, a P/E ratio of 21.83, a P/E/G ratio of 2.42 and a beta of 1.25. 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 has a 1-year low of $77.07 and a 1-year high of $99.41.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AIN. Whittier Trust Co. grew its holdings in shares of Albany International by 94.7% in the first quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock worth $51,000 after purchasing an additional 266 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Albany International by 27.4% in the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock worth $57,000 after purchasing an additional 145 shares during the last quarter. Hilltop National Bank grew its holdings in shares of Albany International by 14.7% in the second quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock worth $88,000 after purchasing an additional 134 shares during the last quarter. TFO Wealth Partners LLC grew its holdings in shares of Albany International by 109,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,092 shares of the textile maker’s stock worth $98,000 after purchasing an additional 1,091 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Albany International in the first quarter worth approximately $102,000. 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.