Robert W. Baird Issues Pessimistic Forecast for Albany International (NYSE:AIN) Stock Price

Albany International (NYSE:AIN) had its price target reduced by research analysts at Robert W. Baird from $104.00 to $92.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the textile maker’s stock. Robert W. Baird’s target price points to a potential upside of 22.28% from the stock’s current price.

A number of other research firms have also recently issued reports on AIN. StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. reduced their target price on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Truist Financial lifted their target price 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. Bank of America reduced their target price on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a research note on Friday, November 15th. Finally, TD Cowen upgraded shares of Albany International to a “strong-buy” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.00.

Albany International Stock Performance

Shares of AIN opened at $75.24 on Friday. The company’s 50 day moving average price is $80.53 and its 200 day moving average price is $81.58. Albany International has a 52 week low of $67.39 and a 52 week high of $97.60. The company has a market capitalization of $2.35 billion, a PE ratio of 23.41 and a beta of 1.34. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68.

Albany International (NYSE:AIN) last announced its quarterly earnings data 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 company had revenue of $286.91 million for the quarter, compared to analysts’ expectations of $299.52 million. Research analysts expect that Albany International will post 3.23 EPS for the current fiscal year.

Institutional Trading of Albany International

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

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.