Albany International (NYSE:AIN) Downgraded by Zacks Research to “Strong Sell”

Albany International (NYSE:AIN) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other brokerages have also weighed in on AIN. JPMorgan Chase & Co. raised their target price on Albany International from $59.00 to $63.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Truist Financial dropped their price target on shares of Albany International from $55.00 to $50.00 and set a “hold” rating on the stock in a research note on Friday, November 7th. Baird R W cut shares of Albany International from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Weiss Ratings restated a “sell (d)” rating on shares of Albany International in a research note on Thursday, November 13th. Finally, Robert W. Baird downgraded shares of Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 target price for the company. in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Albany International has a consensus rating of “Reduce” and a consensus target price of $64.25.

Albany International Trading Down 0.8%

Shares of NYSE:AIN opened at $42.00 on Tuesday. Albany International has a 52 week low of $41.15 and a 52 week high of $88.13. The company’s 50 day moving average is $54.26 and its two-hundred day moving average is $62.14. The company has a market cap of $1.21 billion, a PE ratio of 21.00, a P/E/G ratio of 1.36 and a beta of 1.39. The company has a current ratio of 3.51, a quick ratio of 2.78 and a debt-to-equity ratio of 0.50.

Albany International (NYSE:AIN) last issued its earnings results on Wednesday, May 25th. The textile maker reported $0.43 EPS for the quarter. Albany International had a net margin of 5.25% and a return on equity of 8.87%. The firm had revenue of $239.92 million during the quarter. Equities analysts predict that Albany International will post 3.23 earnings per share for the current fiscal year.

Insider Transactions at Albany International

In other Albany International news, CEO Gunnar Kleveland purchased 2,300 shares of Albany International stock in a transaction dated Monday, November 17th. The stock was acquired at an average cost of $42.04 per share, with a total value of $96,692.00. Following the acquisition, the chief executive officer directly owned 19,895 shares of the company’s stock, valued at $836,385.80. This represents a 13.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new position in shares of Albany International during the 1st quarter worth approximately $18,985,000. Jump Financial LLC purchased a new stake in shares of Albany International in the first quarter valued at $1,740,000. Entropy Technologies LP acquired a new position in Albany International in the 1st quarter valued at about $407,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Albany International during the first quarter worth about $416,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Albany International by 184.7% during the first quarter. Hsbc Holdings PLC now owns 11,238 shares of the textile maker’s stock valued at $779,000 after buying an additional 7,290 shares during the period. 97.37% of the stock is currently owned by institutional investors and hedge funds.

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.