Albany International (NYSE:AIN) Price Target Lowered to $74.00 at JPMorgan Chase & Co.

Albany International (NYSE:AIN) had its price target lowered by investment analysts at JPMorgan Chase & Co. from $75.00 to $74.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the textile maker’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 8.57% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Bank of America lowered their price objective on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a research note on Friday, November 15th. StockNews.com lowered shares of Albany International from a “buy” rating to a “hold” rating in a research report on Tuesday. Truist Financial increased their price objective on Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, TD Cowen upgraded Albany International to a “strong-buy” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $80.75.

Albany International Trading Up 1.5 %

Albany International stock opened at $80.94 on Wednesday. Albany International has a 12-month low of $67.39 and a 12-month high of $98.73. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The stock has a market capitalization of $2.53 billion, a PE ratio of 25.29 and a beta of 1.35. The firm has a 50 day simple moving average of $81.41 and a 200-day simple moving average of $83.10.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.35. The company had revenue of $298.40 million for the quarter, compared to the consensus estimate of $304.51 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.02 EPS. As a group, equities research analysts expect that Albany International will post 3.23 EPS for the current fiscal year.

Insider Activity at Albany International

In related news, CEO Gunnar Kleveland bought 1,400 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was purchased at an average price of $71.25 per share, with a total value of $99,750.00. Following the completion of the transaction, the chief executive officer now directly owns 8,284 shares of the company’s stock, valued at $590,235. This trade represents a 20.34 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Robert Alan Hansen acquired 1,050 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were purchased at an average cost of $71.26 per share, with a total value of $74,823.00. Following the completion of the acquisition, the senior vice president now owns 8,387 shares in the company, valued at $597,657.62. This trade represents a 14.31 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 3,450 shares of company stock valued at $245,813. Company insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP increased its stake in shares of Albany International by 515.4% in the third quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after purchasing an additional 402 shares during the period. GAMMA Investing LLC grew its holdings in Albany International by 33.4% in the 3rd quarter. GAMMA Investing LLC now owns 899 shares of the textile maker’s stock valued at $80,000 after buying an additional 225 shares during the last quarter. KBC Group NV grew its holdings in Albany International by 28.9% in the 3rd quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock valued at $94,000 after buying an additional 237 shares during the last quarter. Central Pacific Bank Trust Division increased its position in Albany International by 40.3% in the 3rd quarter. Central Pacific Bank Trust Division now owns 1,985 shares of the textile maker’s stock worth $176,000 after buying an additional 570 shares during the period. Finally, Bridges Investment Management Inc. acquired a new position in shares of Albany International during the third quarter worth approximately $206,000. 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.