Truist Financial Lowers Albany International (NYSE:AIN) Price Target to $85.00

Albany International (NYSE:AIN) had its price target dropped by research analysts at Truist Financial from $91.00 to $85.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the textile maker’s stock. Truist Financial’s target price indicates a potential upside of 23.19% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. TD Cowen cut their target price on shares of Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a research note on Friday, October 4th. StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $88.00.

Albany International Stock Performance

AIN traded up $1.08 on Friday, hitting $69.00. The company had a trading volume of 15,348 shares, compared to its average volume of 154,936. Albany International has a 1-year low of $67.39 and a 1-year high of $99.41. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.59 and a quick ratio of 2.87. The company’s fifty day moving average price is $81.73 and its 200 day moving average price is $85.36. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 2.36 and a beta of 1.25.

Albany International (NYSE:AIN) last issued its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.35. The business had revenue of $298.40 million during the quarter, compared to analysts’ expectations of $304.51 million. Albany International had a net margin of 7.92% and a return on equity of 12.28%. Albany International’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.02 earnings per share. Equities analysts predict that Albany International will post 3.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. lifted its stake in shares of Albany International by 5,971.5% during the second quarter. Victory Capital Management Inc. now owns 683,895 shares of the textile maker’s stock valued at $57,755,000 after acquiring an additional 672,631 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Albany International by 60.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 161,340 shares of the textile maker’s stock valued at $14,335,000 after acquiring an additional 60,812 shares during the last quarter. Earnest Partners LLC boosted its stake in Albany International by 2.1% during the 2nd quarter. Earnest Partners LLC now owns 2,592,787 shares of the textile maker’s stock worth $218,961,000 after acquiring an additional 53,743 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Albany International by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker’s stock valued at $92,192,000 after purchasing an additional 52,909 shares during the period. Finally, Cubist Systematic Strategies LLC raised its holdings in Albany International by 176.9% in the second quarter. Cubist Systematic Strategies LLC now owns 66,900 shares of the textile maker’s stock worth $5,650,000 after purchasing an additional 42,740 shares during the period. 97.37% of the stock is owned by institutional investors.

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.