Albany International Corp. (NYSE:AIN) Receives $89.50 Average Price Target from Analysts

Albany International Corp. (NYSE:AIN) has received an average rating of “Hold” from the four brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $89.50.

Several research analysts recently weighed in on the stock. StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Truist Financial cut their price target on shares of Albany International from $101.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Finally, TD Cowen cut their price target on shares of Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a research note on Friday, October 4th.

Albany International Stock Down 1.2 %

Albany International stock opened at $74.51 on Monday. The company’s 50 day simple moving average is $84.79 and its 200 day simple moving average is $86.47. Albany International has a fifty-two week low of $69.19 and a fifty-two week high of $99.41. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 2.39 and a beta of 1.25. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.59 and a quick ratio of 2.87.

Albany International (NYSE:AIN) last released its quarterly earnings data on Tuesday, August 6th. The textile maker reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). Albany International had a return on equity of 13.13% and a net margin of 8.76%. The firm had revenue of $331.99 million for the quarter, compared to the consensus estimate of $318.17 million. During the same period in the previous year, the business earned $0.90 EPS. The firm’s revenue was up 21.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Albany International will post 3.11 EPS for the current year.

Albany International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Tuesday, September 3rd. Albany International’s dividend payout ratio is presently 29.21%.

Institutional Trading of Albany International

A number of institutional investors have recently made changes to their positions in the business. Whittier Trust Co. increased its holdings in Albany International by 94.7% during the first quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock worth $51,000 after buying an additional 266 shares during the last quarter. GAMMA Investing LLC increased its holdings in Albany International by 27.4% during the second 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 last quarter. Hilltop National Bank increased its holdings in 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 during the last quarter. SG Americas Securities LLC acquired a new position in Albany International during the first quarter worth $102,000. Finally, Central Pacific Bank Trust Division acquired a new position in Albany International during the first quarter worth $128,000. 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.