Albany International (NYSE:AIN) Rating Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of Albany International (NYSE:AIN) from a buy rating to a hold rating in a report released on Thursday morning.

A number of other research analysts have also commented on AIN. Truist Financial decreased their price objective on Albany International from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Bank of America decreased their price target on Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a report on Friday, November 15th. Finally, TD Cowen dropped their price objective on Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $85.50.

Albany International Stock Performance

Shares of NYSE:AIN opened at $82.59 on Thursday. The business has a fifty day moving average of $78.94 and a 200-day moving average of $84.65. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. Albany International has a twelve month low of $67.39 and a twelve month high of $99.41. The firm has a market cap of $2.59 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 2.69 and a beta of 1.29.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.35. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The firm had revenue of $298.40 million during the quarter, compared to analysts’ expectations of $304.51 million. During the same quarter last year, the company posted $1.02 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts predict that Albany International will post 3.23 EPS for the current fiscal year.

Insider Transactions at Albany International

In other news, SVP Robert Alan Hansen purchased 1,050 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average cost of $71.26 per share, for a total transaction of $74,823.00. Following the transaction, the senior vice president now directly owns 8,387 shares of the company’s stock, valued at approximately $597,657.62. The trade was a 14.31 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gunnar Kleveland acquired 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were purchased at an average price of $71.25 per share, with a total value of $99,750.00. Following the acquisition, the chief executive officer now owns 8,284 shares of the company’s stock, valued at approximately $590,235. This trade represents a 20.34 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 3,450 shares of company stock worth $245,813 in the last three months. Insiders own 0.76% of the company’s stock.

Institutional Trading of Albany International

Several hedge funds have recently added to or reduced their stakes in AIN. SG Americas Securities LLC acquired a new stake in Albany International during the 1st quarter worth approximately $102,000. Russell Investments Group Ltd. raised its holdings in shares of Albany International by 3,897.2% during the first quarter. Russell Investments Group Ltd. now owns 2,878 shares of the textile maker’s stock worth $269,000 after acquiring an additional 2,806 shares during the period. State Board of Administration of Florida Retirement System lifted its position in Albany International by 36.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 12,172 shares of the textile maker’s stock valued at $1,088,000 after acquiring an additional 3,233 shares in the last quarter. Vanguard Group Inc. boosted its stake in Albany International by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock worth $330,041,000 after purchasing an additional 11,052 shares during the period. Finally, UniSuper Management Pty Ltd bought a new position in Albany International during the 1st quarter worth about $679,000. Institutional investors and hedge funds 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.