Albany International Corporation (NYSE:AIN) Receives $79.00 Consensus Target Price from Analysts

Albany International Corporation (NYSE:AIN) has received an average rating of “Moderate Buy” from the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $79.00.

AIN has been the topic of several analyst reports. Bank of America cut their price target on Albany International from $75.00 to $65.00 and set an “underperform” rating on the stock in a research report on Monday, June 2nd. JPMorgan Chase & Co. increased their target price on shares of Albany International from $65.00 to $77.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Wall Street Zen raised shares of Albany International from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Finally, Truist Financial lowered their target price on shares of Albany International from $88.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Brooklyn Investment Group lifted its stake in Albany International by 2,241.2% in the 1st quarter. Brooklyn Investment Group now owns 398 shares of the textile maker’s stock valued at $27,000 after buying an additional 381 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Albany International in the 4th quarter worth approximately $40,000. Smartleaf Asset Management LLC lifted its stake in Albany International by 306.7% in 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 lifted its stake in Albany International by 735.6% in 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 purchased a new position in Albany International in the 4th quarter worth approximately $70,000. 97.37% of the stock is owned by hedge funds and other institutional investors.

Albany International Price Performance

Shares of AIN opened at $70.79 on Thursday. The business’s 50-day moving average is $67.50 and its two-hundred day moving average is $72.33. The company has a market capitalization of $2.14 billion, a P/E ratio of 28.54, a P/E/G ratio of 1.66 and a beta of 1.31. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.92 and a current ratio of 3.70. Albany International has a fifty-two week low of $57.71 and a fifty-two week high of $95.47.

Albany International (NYSE:AIN) last announced its quarterly earnings results on Wednesday, April 30th. The textile maker reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.15. The company had revenue of $288.77 million for the quarter, compared to the consensus estimate of $300.74 million. Albany International had a return on equity of 9.79% and a net margin of 6.44%. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period last year, the firm earned $0.90 EPS. Research analysts predict that Albany International will post 3.23 earnings per share for the current year.

Albany International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, June 6th. Albany International’s payout ratio is currently 43.55%.

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.