JPMorgan Chase & Co. Cuts Albany International (NYSE:AIN) Price Target to $96.00

Albany International (NYSE:AIN) had its price target cut by JPMorgan Chase & Co. from $98.00 to $96.00 in a report released on Friday, Benzinga reports. They currently have a neutral rating on the textile maker’s stock.

A number of other analysts have also commented on the company. Bank of America reaffirmed an underperform rating and issued a $95.00 target price (down from $105.00) on shares of Albany International in a research report on Thursday, March 28th. TD Cowen decreased their price objective on Albany International from $106.00 to $95.00 and set a buy rating for the company in a report on Wednesday, May 1st. Finally, Truist Financial lowered their target price on Albany International from $121.00 to $104.00 and set a buy rating on the stock in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $102.00.

Albany International Trading Up 1.2 %

Shares of AIN stock opened at $84.67 on Friday. Albany International has a fifty-two week low of $78.20 and a fifty-two week high of $99.41. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.85 and a current ratio of 3.99. The stock has a 50 day simple moving average of $90.68 and a two-hundred day simple moving average of $89.66. The company has a market cap of $2.64 billion, a P/E ratio of 23.78, a PEG ratio of 2.21 and a beta of 1.28.

Albany International (NYSE:AIN) last released its quarterly earnings data on Tuesday, April 30th. The textile maker reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. The company had revenue of $313.33 million during the quarter, compared to analyst estimates of $313.41 million. Albany International had a net margin of 9.35% and a return on equity of 13.40%. Albany International’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 EPS. Research analysts forecast that Albany International will post 3.89 earnings per share for the current year.

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.04 annualized dividend and a yield of 1.23%. Albany International’s dividend payout ratio (DPR) is currently 29.21%.

Insider Activity at Albany International

In other news, CFO Robert D. Starr purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average cost of $84.44 per share, with a total value of $84,440.00. Following the completion of the transaction, the chief financial officer now directly owns 2,610 shares of the company’s stock, valued at $220,388.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.76% of the stock is currently owned by insiders.

Institutional Trading of Albany International

Institutional investors and hedge funds have recently modified their holdings of the business. Orion Capital Management LLC purchased a new stake in shares of Albany International during the 3rd quarter valued at $29,000. GAMMA Investing LLC bought a new position in Albany International during the fourth quarter valued at about $47,000. 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. Principal Securities Inc. bought a new stake in Albany International in the fourth quarter worth about $77,000. Finally, Adirondack Trust Co. purchased a new position in Albany International in the third quarter valued at about $86,000. 97.37% of the stock is owned by hedge funds and other institutional investors.

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.