Albany International (NYSE:AIN) Stock Rating Upgraded by TD Cowen

Albany International (NYSE:AINGet Free Report) was upgraded by equities researchers at TD Cowen to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other research analysts have also weighed in on the company. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research report on Friday, December 13th. Bank of America lowered their target price on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a report on Friday, November 15th. Finally, Truist Financial cut their price target on shares of Albany International from $91.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Albany International has a consensus rating of “Moderate Buy” and a consensus target price of $85.50.

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Albany International Stock Up 2.4 %

AIN stock opened at $81.18 on Thursday. 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 $2.54 billion, a P/E ratio of 25.37 and a beta of 1.34. Albany International has a fifty-two week low of $67.39 and a fifty-two week high of $99.41. The business has a 50-day moving average of $78.69 and a 200-day moving average of $83.67.

Albany International (NYSE:AINGet Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.35. The company had revenue of $298.40 million during the quarter, compared to analysts’ expectations of $304.51 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the business earned $1.02 EPS. On average, sell-side analysts anticipate that Albany International will post 3.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Albany International

In other Albany International news, SVP Robert Alan Hansen purchased 1,050 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average cost of $71.26 per share, for a total transaction of $74,823.00. Following the completion of the purchase, the senior vice president now owns 8,387 shares of the company’s stock, valued at approximately $597,657.62. The trade was a 14.31 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gunnar Kleveland acquired 1,400 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was acquired at an average price of $71.25 per share, with a total value of $99,750.00. Following the purchase, the chief executive officer now directly owns 8,284 shares in the company, valued at approximately $590,235. This represents a 20.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 3,450 shares of company stock valued at $245,813 in the last quarter. 0.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. grew its holdings in shares of Albany International by 6.6% during the 3rd quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker’s stock worth $52,071,000 after purchasing an additional 36,274 shares in the last quarter. Geode Capital Management LLC lifted its position in Albany International by 1.2% during the third quarter. Geode Capital Management LLC now owns 715,779 shares of the textile maker’s stock worth $63,609,000 after purchasing an additional 8,356 shares during the period. Barclays PLC lifted its position in Albany International by 305.5% during the third quarter. Barclays PLC now owns 53,227 shares of the textile maker’s stock worth $4,728,000 after purchasing an additional 40,101 shares during the period. Y Intercept Hong Kong Ltd grew its stake in Albany International by 58.1% during the third quarter. Y Intercept Hong Kong Ltd now owns 9,122 shares of the textile maker’s stock worth $810,000 after buying an additional 3,352 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in Albany International by 1.6% in the 3rd quarter. Jane Street Group LLC now owns 38,753 shares of the textile maker’s stock valued at $3,443,000 after buying an additional 629 shares during the period. 97.37% of the stock is owned by institutional investors.

Albany International Company Profile

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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.

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