Albany International (NYSE:AIN) Rating Lowered to Hold at StockNews.com

Albany International (NYSE:AIN) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other research analysts have also commented on AIN. TD Cowen decreased their price target on shares of Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a report on Friday, October 4th. Bank of America dropped their price target on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a research report on Friday, November 15th. Finally, Truist Financial dropped their price target on shares of Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $85.50.

Albany International Stock Performance

Shares of AIN stock opened at $84.78 on Thursday. The company’s fifty day simple moving average is $78.90 and its 200-day simple moving average is $84.64. Albany International has a 52 week low of $67.39 and a 52 week high of $99.41. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. The company has a market cap of $2.65 billion, a PE ratio of 25.81, a P/E/G ratio of 2.69 and a beta of 1.29.

Albany International (NYSE:AIN) last issued its earnings results on Wednesday, October 30th. The textile maker reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.35. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The business had revenue of $298.40 million for the quarter, compared to the consensus estimate of $304.51 million. During the same quarter last year, the firm posted $1.02 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Albany International will post 3.23 EPS for the current year.

Insider Transactions at Albany International

In related news, CEO Gunnar Kleveland acquired 1,400 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were purchased at an average price of $71.25 per share, with a total value of $99,750.00. Following the acquisition, the chief executive officer now directly owns 8,284 shares in the company, valued at $590,235. The trade was a 20.34 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, VP Joseph M. Gaug acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were bought at an average cost of $71.24 per share, for a total transaction of $71,240.00. Following the acquisition, the vice president now owns 6,811 shares in the company, valued at approximately $485,215.64. The trade was a 17.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 3,450 shares of company stock worth $245,813. 0.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Hilltop National Bank raised its position in shares of Albany International by 14.7% in the 2nd 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 during the period. GAMMA Investing LLC raised its holdings in Albany International by 27.4% during the 2nd quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock worth $57,000 after buying an additional 145 shares during the period. Creative Planning raised its holdings in Albany International by 3.0% during the 2nd quarter. Creative Planning now owns 5,018 shares of the textile maker’s stock worth $424,000 after buying an additional 147 shares during the period. Arizona State Retirement System raised its holdings in Albany International by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 8,744 shares of the textile maker’s stock worth $738,000 after buying an additional 175 shares during the period. Finally, Dakota Wealth Management raised its holdings in Albany International by 1.5% during the 2nd quarter. Dakota Wealth Management now owns 13,211 shares of the textile maker’s stock worth $1,116,000 after buying an additional 195 shares during the period. 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.