Albany International’s (AIN) “Hold” Rating Reiterated at Noble Financial

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Noble Financial restated their hold rating on shares of Albany International (NYSE:AIN) in a research note issued to investors on Sunday morning.

Other equities analysts also recently issued reports about the company. ValuEngine downgraded Albany International from a buy rating to a hold rating in a research note on Monday, August 13th. Zacks Investment Research upgraded Albany International from a hold rating to a strong-buy rating and set a $87.00 price target on the stock in a research note on Monday, August 13th. Finally, Stephens restated a hold rating on shares of Albany International in a research note on Thursday, August 16th.

Albany International stock opened at $68.87 on Friday. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 42.78 and a beta of 1.74. Albany International has a 12 month low of $57.95 and a 12 month high of $82.20. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.90 and a quick ratio of 2.41.

Albany International (NYSE:AIN) last released its quarterly earnings results on Tuesday, October 30th. The textile maker reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.15. The firm had revenue of $253.25 million for the quarter, compared to the consensus estimate of $248.50 million. Albany International had a return on equity of 14.33% and a net margin of 7.51%.

Hedge funds have recently added to or reduced their stakes in the company. Ibex Investors LLC purchased a new position in shares of Albany International in the 3rd quarter worth $208,000. Hsbc Holdings PLC purchased a new position in shares of Albany International in the 3rd quarter worth $217,000. Jane Street Group LLC purchased a new position in Albany International during the third quarter valued at $243,000. D.A. Davidson & CO. purchased a new position in Albany International during the third quarter valued at $258,000. Finally, FDx Advisors Inc. lifted its position in Albany International by 20.6% during the second quarter. FDx Advisors Inc. now owns 4,466 shares of the textile maker’s stock valued at $269,000 after purchasing an additional 764 shares in the last quarter. Hedge funds and other institutional investors own 87.08% of the company’s stock.

Albany International Company Profile

Albany International Corp. engages in textile and materials processing businesses worldwide. The company operates through two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing. This segment offers forming, pressing, dryer fabrics, and process belts.

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