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

Albany International Corporation (NYSE:AIN) has been assigned an average recommendation of “Moderate Buy” from the five analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $79.00.

Several brokerages recently commented on AIN. JPMorgan Chase & Co. boosted their price objective on shares of Albany International from $65.00 to $77.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Wall Street Zen raised shares of Albany International from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Bank of America reduced their price objective on shares of Albany International from $75.00 to $65.00 and set an “underperform” rating for the company in a research note on Monday, June 2nd. Finally, Truist Financial reduced their price objective on shares of Albany International from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, April 17th.

Institutional Investors Weigh In On Albany International

A number of institutional investors have recently made changes to their positions in the business. Connors Investor Services Inc. boosted its stake in shares of Albany International by 40.0% in the 2nd quarter. Connors Investor Services Inc. now owns 38,890 shares of the textile maker’s stock valued at $2,727,000 after purchasing an additional 11,112 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in Albany International by 2.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 6,960 shares of the textile maker’s stock valued at $488,000 after buying an additional 193 shares during the last quarter. Inspire Investing LLC raised its holdings in Albany International by 11.1% during the 2nd quarter. Inspire Investing LLC now owns 5,521 shares of the textile maker’s stock valued at $387,000 after buying an additional 553 shares during the last quarter. Blue Trust Inc. raised its holdings in Albany International by 5.6% during the 2nd quarter. Blue Trust Inc. now owns 3,237 shares of the textile maker’s stock valued at $227,000 after buying an additional 172 shares during the last quarter. Finally, Hilltop National Bank bought a new stake in Albany International during the 2nd quarter valued at $101,000. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Albany International Stock Performance

NYSE AIN opened at $70.96 on Monday. The company’s 50 day moving average is $69.00 and its 200-day moving average is $71.30. Albany International has a 12-month low of $57.71 and a 12-month high of $95.47. The company has a quick ratio of 2.92, a current ratio of 3.70 and a debt-to-equity ratio of 0.46. The firm has a market cap of $2.14 billion, a P/E ratio of 28.61, a price-to-earnings-growth ratio of 1.66 and a beta of 1.31.

Albany International (NYSE:AIN) last posted its quarterly earnings results on Wednesday, July 30th. The textile maker reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.16). Albany International had a net margin of 6.44% and a return on equity of 9.79%. During the same quarter in the prior year, the business posted $0.89 earnings per share. The firm’s revenue was down 6.2% compared to the same quarter last year. Sell-side analysts predict that Albany International will post 3.23 earnings per share for the current year.

Albany International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Friday, June 6th were paid a $0.27 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.52%. Albany International’s dividend payout ratio (DPR) is 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.