StockNews.com Downgrades Albany International (NYSE:AIN) to Hold

Albany International (NYSE:AIN) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

AIN has been the subject of several other reports. JPMorgan Chase & Co. cut their target price on shares of Albany International from $98.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. TD Cowen cut their price objective on shares of Albany International from $106.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Bank of America lowered their target price on shares of Albany International from $95.00 to $90.00 and set an “underperform” rating on the stock in a research note on Wednesday, May 29th. Finally, Truist Financial cut their price target on Albany International from $104.00 to $101.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Albany International currently has a consensus rating of “Hold” and a consensus price target of $95.50.

Albany International Stock Performance

Albany International stock traded up $1.57 during mid-day trading on Wednesday, reaching $87.40. 263,295 shares of the company traded hands, compared to its average volume of 145,371. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.99 and a quick ratio of 3.20. The firm’s fifty day moving average is $86.59 and its two-hundred day moving average is $89.00. Albany International has a fifty-two week low of $78.20 and a fifty-two week high of $99.41. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 2.65 and a beta of 1.26.

Albany International (NYSE:AIN) last issued its earnings results on Tuesday, August 6th. The textile maker reported $0.89 EPS for the quarter, meeting analysts’ consensus estimates of $0.89. Albany International had a return on equity of 13.40% and a net margin of 9.35%. The firm had revenue of $331.99 million for the quarter, compared to analyst estimates of $318.17 million. During the same quarter in the prior year, the firm earned $0.90 earnings per share. Albany International’s revenue for the quarter was up 21.1% on a year-over-year basis. On average, equities research analysts expect that Albany International will post 3.79 earnings per share for the current fiscal year.

Institutional Trading of Albany International

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in Albany International in the 4th quarter valued at about $47,000. Whittier Trust Co. lifted its stake in Albany International by 94.7% during the first quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock worth $51,000 after purchasing an additional 266 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of Albany International during the fourth quarter worth $77,000. Hilltop National Bank grew its stake in shares of Albany International by 14.7% in the second quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock valued at $88,000 after buying an additional 134 shares in the last quarter. Finally, TFO Wealth Partners LLC raised its holdings in shares of Albany International by 109,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,092 shares of the textile maker’s stock valued at $98,000 after buying an additional 1,091 shares during the period. 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.