JPMorgan Chase & Co. Has Lowered Expectations for Albany International (NYSE:AIN) Stock Price

Albany International (NYSE:AIN) had its price objective decreased by research analysts at JPMorgan Chase & Co. from $75.00 to $74.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the textile maker’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 9.08% from the stock’s current price.

Several other analysts also recently commented on AIN. Truist Financial upped their price objective on Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America cut their price target on Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a research note on Friday, November 15th. StockNews.com lowered shares of Albany International from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, TD Cowen upgraded shares of Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $80.75.

Albany International Trading Up 1.4 %

NYSE AIN opened at $81.39 on Wednesday. Albany International has a 12 month low of $67.39 and a 12 month high of $98.73. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 25.43 and a beta of 1.35. 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 firm’s fifty day moving average price is $81.41 and its 200 day moving average price is $83.07.

Albany International (NYSE:AIN) last announced 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. The business had revenue of $298.40 million for 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 company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.02 EPS. On average, sell-side analysts expect that Albany International will post 3.24 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Robert Alan Hansen bought 1,050 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was purchased at an average price of $71.26 per share, with a total value of $74,823.00. Following the purchase, the senior vice president now owns 8,387 shares of the company’s stock, valued at $597,657.62. This trade represents a 14.31 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Joseph M. Gaug bought 1,000 shares of Albany International stock in a transaction on Tuesday, November 5th. The stock was purchased at an average price of $71.24 per share, for a total transaction of $71,240.00. Following the completion of the acquisition, the vice president now owns 6,811 shares in the company, valued at $485,215.64. This represents a 17.21 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 3,450 shares of company stock worth $245,813 over the last ninety days. 0.92% of the stock is currently owned by insiders.

Institutional Trading of Albany International

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning boosted its holdings 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 worth $424,000 after purchasing an additional 147 shares during the last quarter. Integrated Investment Consultants LLC lifted its position in Albany International by 3.3% during the fourth quarter. Integrated Investment Consultants LLC now owns 4,825 shares of the textile maker’s stock worth $386,000 after buying an additional 155 shares during the period. Gabelli Funds LLC boosted its stake in Albany International by 0.4% in the 2nd quarter. Gabelli Funds LLC now owns 52,600 shares of the textile maker’s stock worth $4,442,000 after buying an additional 200 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Albany International by 5.4% in the 2nd quarter. Mackenzie Financial Corp now owns 4,212 shares of the textile maker’s stock valued at $356,000 after buying an additional 215 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Albany International by 33.4% during the 3rd quarter. GAMMA Investing LLC now owns 899 shares of the textile maker’s stock valued at $80,000 after acquiring an additional 225 shares during the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.

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.