Albany International (NYSE:AIN) Price Target Lowered to $80.00 at Truist Financial

Albany International (NYSE:AIN) had its price target dropped by Truist Financial from $88.00 to $80.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the textile maker’s stock. Truist Financial’s price objective points to a potential upside of 25.94% from the company’s previous close.

AIN has been the subject of a number of other reports. StockNews.com cut shares of Albany International from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Bank of America reduced their target price on Albany International from $80.00 to $75.00 and set an “underperform” rating for the company in a research note on Tuesday, March 25th. Robert W. Baird dropped their price target on Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. reduced their price objective on Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Finally, TD Cowen raised Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $80.40.

Albany International Trading Down 0.7 %

Shares of NYSE:AIN traded down $0.47 during midday trading on Thursday, reaching $63.52. The company’s stock had a trading volume of 29,184 shares, compared to its average volume of 231,297. Albany International has a fifty-two week low of $57.71 and a fifty-two week high of $95.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. The firm has a 50 day moving average price of $72.65 and a two-hundred day moving average price of $77.03. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 19.87 and a beta of 1.29.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new stake in Albany International in the 4th quarter valued at $40,000. Smartleaf Asset Management LLC grew its stake in shares of 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 acquiring an additional 503 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of Albany International by 735.6% in the fourth quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker’s stock valued at $60,000 after purchasing an additional 662 shares during the last quarter. Vestcor Inc bought a new position in shares of Albany International during the fourth quarter valued at about $70,000. Finally, Covestor Ltd boosted its holdings in Albany International by 110.4% during the fourth quarter. Covestor Ltd now owns 888 shares of the textile maker’s stock worth $71,000 after purchasing an additional 466 shares during the last quarter. Hedge funds and other 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.