Albany International (NYSE:AIN) Price Target Cut to $91.00

Albany International (NYSE:AIN) had its price target dropped by investment analysts at Truist Financial from $101.00 to $91.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the textile maker’s stock. Truist Financial’s target price would indicate a potential upside of 16.83% from the stock’s previous close.

Separately, StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research report 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. According to data from MarketBeat.com, Albany International has a consensus rating of “Hold” and a consensus price target of $93.00.

Albany International Price Performance

NYSE:AIN traded down $9.03 during trading hours on Thursday, reaching $77.89. 101,027 shares of the company traded hands, compared to its average volume of 144,028. The firm’s 50-day moving average is $88.52 and its 200-day moving average is $88.04. The stock has a market cap of $2.43 billion, a P/E ratio of 21.88, a P/E/G ratio of 2.42 and a beta of 1.26. 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 $77.75 and a 1-year high of $99.41.

Albany International (NYSE:AIN) last issued its quarterly 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). Albany International had a return on equity of 13.13% and a net margin of 8.76%. The business had revenue of $331.99 million for the quarter, compared to analysts’ expectations of $318.17 million. During the same period in the prior year, the company earned $0.90 EPS. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. Equities research analysts expect that Albany International will post 3.71 earnings per share for the current fiscal year.

Institutional Trading of Albany International

Several large investors have recently modified their holdings of the business. Hilltop National Bank grew its stake in shares of Albany International by 14.7% during the second quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock valued at $88,000 after acquiring an additional 134 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Albany International by 27.4% during the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock valued at $57,000 after acquiring an additional 145 shares in the last quarter. Creative Planning grew its stake in shares of Albany International by 3.0% during the second quarter. Creative Planning now owns 5,018 shares of the textile maker’s stock valued at $424,000 after acquiring an additional 147 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Albany International by 2.0% during the second quarter. Arizona State Retirement System now owns 8,744 shares of the textile maker’s stock valued at $738,000 after acquiring an additional 175 shares in the last quarter. Finally, Dakota Wealth Management grew its stake in shares of Albany International by 1.5% during the second quarter. Dakota Wealth Management now owns 13,211 shares of the textile maker’s stock valued at $1,116,000 after acquiring an additional 195 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors and hedge funds.

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.