Albany International (NYSE:AIN) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Albany International (NYSE:AIN) from a hold rating to a buy rating in a research note published on Thursday morning.

Other equities research analysts also recently issued research reports about the company. Truist Financial decreased their price objective on Albany International from $104.00 to $101.00 and set a buy rating for the company in a report on Wednesday, July 17th. Bank of America lowered their price objective on shares of Albany International from $95.00 to $90.00 and set an underperform rating on the stock in a report on Wednesday, May 29th. TD Cowen reduced their price objective on shares of Albany International from $106.00 to $95.00 and set a buy rating for the company in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Albany International from $98.00 to $96.00 and set a neutral rating on the stock in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $95.50.

Albany International Stock Down 0.4 %

Albany International stock opened at $88.92 on Thursday. The company has a quick ratio of 3.20, a current ratio of 3.99 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $2.77 billion, a PE ratio of 24.98, a PEG ratio of 2.65 and a beta of 1.26. The firm’s fifty day moving average is $86.84 and its 200 day moving average is $88.93. Albany International has a 12-month low of $78.20 and a 12-month high of $99.41.

Albany International (NYSE:AIN) last announced its quarterly earnings data on Tuesday, August 6th. The textile maker reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). Albany International had a net margin of 9.35% and a return on equity of 13.40%. The company had revenue of $331.99 million for the quarter, compared to analyst estimates of $318.17 million. During the same quarter in the prior year, the company posted $0.90 EPS. Albany International’s revenue for the quarter was up 21.1% on a year-over-year basis. As a group, sell-side analysts predict that Albany International will post 3.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC bought a new position in shares of Albany International during the 4th quarter worth approximately $47,000. Whittier Trust Co. lifted 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 acquiring an additional 266 shares during the period. Principal Securities Inc. purchased a new position in Albany International in the fourth quarter worth $77,000. Hilltop National Bank grew its stake in Albany International by 14.7% in the 2nd quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock valued at $88,000 after purchasing an additional 134 shares during the period. Finally, TFO Wealth Partners LLC increased its position in shares of Albany International by 109,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,092 shares of the textile maker’s stock valued at $98,000 after purchasing an additional 1,091 shares during the last quarter. 97.37% of the stock is owned by 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.