Albany International (NYSE:AIN) Raised to Hold at Zacks Research

Albany International (NYSE:AIN) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Baird R W lowered Albany International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Robert W. Baird lowered Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 price target for the company. in a research report on Thursday, July 31st. Truist Financial reaffirmed a “hold” rating and issued a $55.00 price target (down previously from $70.00) on shares of Albany International in a research report on Friday, August 1st. JPMorgan Chase & Co. lifted their price objective on Albany International from $59.00 to $63.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Albany International in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $65.50.

Albany International Price Performance

AIN opened at $57.97 on Monday. The stock has a 50-day moving average price of $58.82 and a 200-day moving average price of $63.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.51 and a quick ratio of 2.78. The firm has a market cap of $1.71 billion, a PE ratio of 28.98, a P/E/G ratio of 1.38 and a beta of 1.36. Albany International has a 1 year low of $50.60 and a 1 year high of $88.13.

Albany International (NYSE:AIN) last posted its quarterly earnings results on Wednesday, May 25th. The textile maker reported $0.43 earnings per share (EPS) for the quarter. The firm had revenue of $239.92 million during the quarter. Albany International had a return on equity of 8.87% and a net margin of 5.25%. Sell-side analysts predict that Albany International will post 3.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Albany International

Large investors have recently made changes to their positions in the company. Brooklyn Investment Group grew its stake in shares of Albany International by 2,241.2% during the 1st quarter. Brooklyn Investment Group now owns 398 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 381 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Albany International by 227.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 540 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 375 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Albany International by 32.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 711 shares of the textile maker’s stock valued at $49,000 after purchasing an additional 174 shares during the period. Osaic Holdings Inc. grew its stake in shares of Albany International by 42.3% during the 2nd quarter. Osaic Holdings Inc. now owns 908 shares of the textile maker’s stock valued at $64,000 after purchasing an additional 270 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in shares of Albany International during the 2nd quarter valued at about $77,000. 97.37% of the stock is currently 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.