Albany International (NYSE:AIN) Price Target Lowered to $50.00 at Truist Financial

Albany International (NYSE:AIN) had its target price lowered by equities researchers at Truist Financial from $55.00 to $50.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “hold” rating on the textile maker’s stock. Truist Financial’s price objective suggests a potential downside of 2.28% from the stock’s current price.

Other analysts also recently issued research reports about the company. Baird R W downgraded Albany International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. lifted their target price on shares of Albany International from $59.00 to $63.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of Albany International in a report on Wednesday, October 8th. Zacks Research upgraded shares of Albany International from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Robert W. Baird cut shares of 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. One analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $64.25.

Albany International Price Performance

NYSE AIN traded down $2.84 during trading hours on Friday, hitting $51.16. The company had a trading volume of 82,943 shares, compared to its average volume of 274,099. The firm has a 50 day simple moving average of $57.34 and a 200 day simple moving average of $63.38. Albany International has a 52 week low of $50.60 and a 52 week high of $88.13. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 1.36 and a beta of 1.39. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.78 and a current ratio of 3.51.

Albany International (NYSE:AIN) last issued its quarterly earnings data on Wednesday, May 25th. The textile maker reported $0.43 EPS for the quarter. Albany International had a net margin of 5.25% and a return on equity of 8.87%. The company had revenue of $239.92 million during the quarter. Equities research analysts expect that Albany International will post 3.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AIN. Brooklyn Investment Group boosted its position in Albany International by 2,241.2% in the first quarter. Brooklyn Investment Group now owns 398 shares of the textile maker’s stock valued at $27,000 after buying an additional 381 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Albany International by 227.3% during the second quarter. EverSource Wealth Advisors LLC now owns 540 shares of the textile maker’s stock worth $38,000 after purchasing an additional 375 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Albany International by 32.4% during the second 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 holdings in Albany International by 42.3% during the second quarter. Osaic Holdings Inc. now owns 908 shares of the textile maker’s stock worth $64,000 after acquiring an additional 270 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in shares of Albany International during the 2nd quarter worth approximately $77,000. 97.37% of the stock is currently owned by hedge funds and other 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.