Analysts Set Albany International Corp. (NYSE:AIN) Price Target at $79.00

Shares of Albany International Corp. (NYSE:AIN) have received a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $79.00.

A number of equities research analysts have commented on AIN shares. Wall Street Zen raised shares of Albany International from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Truist Financial cut their price target on Albany International from $88.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Robert W. Baird decreased their price target on Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Bank of America dropped their price objective on Albany International from $75.00 to $65.00 and set an “underperform” rating on the stock in a report on Monday, June 2nd. Finally, JPMorgan Chase & Co. raised their target price on Albany International from $65.00 to $77.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th.

Institutional Trading of Albany International

A number of hedge funds and other institutional investors have recently made changes to their positions in AIN. Cetera Investment Advisers grew its position in shares of Albany International by 3.7% during the fourth quarter. Cetera Investment Advisers now owns 3,730 shares of the textile maker’s stock worth $298,000 after acquiring an additional 133 shares during the last quarter. Summit Investment Advisors Inc. grew its position in Albany International by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,265 shares of the textile maker’s stock worth $261,000 after purchasing an additional 207 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in Albany International by 0.5% in the first quarter. Gamco Investors INC. ET AL now owns 49,330 shares of the textile maker’s stock valued at $3,406,000 after purchasing an additional 250 shares during the period. HighTower Advisors LLC increased its stake in Albany International by 2.0% in the fourth quarter. HighTower Advisors LLC now owns 17,157 shares of the textile maker’s stock valued at $1,372,000 after purchasing an additional 342 shares during the period. Finally, Park Avenue Securities LLC raised its holdings in shares of Albany International by 11.5% in the first quarter. Park Avenue Securities LLC now owns 3,320 shares of the textile maker’s stock valued at $229,000 after buying an additional 342 shares during the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.

Albany International Trading Up 0.6%

AIN opened at $68.56 on Friday. 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 stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 21.43 and a beta of 1.31. The business has a fifty day moving average price of $65.33 and a 200 day moving average price of $74.04. Albany International has a 12 month low of $57.71 and a 12 month high of $95.47.

Albany International (NYSE:AIN) last announced its quarterly earnings data on Wednesday, April 30th. The textile maker reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.15. The business had revenue of $288.77 million during the quarter, compared to the consensus estimate of $300.74 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The business’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. Sell-side analysts expect that Albany International will post 3.23 earnings per share for the current fiscal year.

Albany International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Friday, June 6th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.08 annualized dividend and a yield of 1.58%. Albany International’s dividend payout ratio is presently 43.55%.

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.