Albany International Corp. (NYSE:AIN) Given Consensus Rating of “Hold” by Brokerages

Albany International Corp. (NYSE:AIN) has been assigned a consensus rating of “Hold” from the four brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $85.50.

Several equities research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Albany International from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st. TD Cowen decreased their price objective on Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Truist Financial dropped their target price on Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, Bank of America decreased their price target on Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a report on Friday, November 15th.

Albany International Stock Up 2.7 %

Shares of NYSE AIN opened at $85.15 on Tuesday. The business has a 50-day moving average price of $78.51 and a 200 day moving average price of $84.32. The stock has a market cap of $2.67 billion, a PE ratio of 26.61 and a beta of 1.29. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. Albany International has a 52-week low of $67.39 and a 52-week high of $99.41.

Albany International (NYSE:AIN) last announced its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $304.51 million. During the same period last year, the firm posted $1.02 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts forecast that Albany International will post 3.23 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Albany International

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hilltop National Bank grew its holdings 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 worth $88,000 after buying an additional 134 shares in the last quarter. GAMMA Investing LLC raised its holdings in Albany International by 27.4% in the 2nd quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock valued at $57,000 after acquiring an additional 145 shares during the last quarter. Creative Planning raised its holdings in Albany International by 3.0% in the 2nd quarter. Creative Planning now owns 5,018 shares of the textile maker’s stock valued at $424,000 after acquiring an additional 147 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of 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 purchasing an additional 175 shares during the period. Finally, Dakota Wealth Management grew its position in shares of Albany International by 1.5% in the second quarter. Dakota Wealth Management now owns 13,211 shares of the textile maker’s stock valued at $1,116,000 after purchasing an additional 195 shares during the period. Hedge funds and other institutional investors own 97.37% of the company’s stock.

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.