StockNews.com Downgrades Albany International (NYSE:AIN) to Hold

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

Several other analysts also recently commented on the stock. Bank of America reduced their target price on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a report on Friday, November 15th. JPMorgan Chase & Co. reduced their target price on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. TD Cowen raised shares of Albany International to a “strong-buy” rating in a report on Thursday, December 19th. Robert W. Baird dropped their price objective on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Truist Financial lifted their price objective on shares of Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Albany International currently has an average rating of “Moderate Buy” and an average price target of $83.00.

Albany International Stock Performance

Shares of AIN opened at $76.58 on Friday. The firm has a 50-day moving average of $80.43 and a 200-day moving average of $81.50. Albany International has a one year low of $67.39 and a one year high of $97.60. The company has a market cap of $2.40 billion, a PE ratio of 23.93 and a beta of 1.34. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94.

Albany International (NYSE:AIN) last announced its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). Albany International had a net margin of 7.92% and a return on equity of 12.20%. The firm had revenue of $286.91 million during the quarter, compared to the consensus estimate of $299.52 million. As a group, equities analysts forecast that Albany International will post 3.23 earnings per share for the current year.

Hedge Funds Weigh In On Albany International

Several hedge funds and other institutional investors have recently made changes to their positions in AIN. Public Employees Retirement System of Ohio acquired a new position in Albany International during the 4th quarter worth approximately $40,000. Quarry LP increased its position in Albany International by 515.4% during the 3rd quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after purchasing an additional 402 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Albany International by 306.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock worth $53,000 after purchasing an additional 503 shares in the last quarter. Sterling Capital Management LLC increased its position in Albany International by 735.6% during the 4th quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker’s stock worth $60,000 after purchasing an additional 662 shares in the last quarter. Finally, Vestcor Inc acquired a new position in Albany International during the 4th quarter worth approximately $70,000. 97.37% of the stock is currently owned by institutional investors and hedge funds.

About Albany International

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.