Albany International (NYSE:AIN) Price Target Lowered to $85.00 at Truist Financial

by · The Cerbat Gem

Albany International (NYSE:AIN – Free Report) had its price target trimmed by Truist Financial from $91.00 to $85.00 in a research note released on Friday, Benzinga reports. The brokerage currently has a buy rating on the textile maker’s stock.

AIN has been the subject of a number of other research reports. TD Cowen cut their target price on shares of Albany International from $95.00 to $81.00 and set a “buy” rating for the company in a research report on Friday, October 4th. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Albany International currently has an average rating of “Hold” and a consensus price target of $88.00.

Get Our Latest Stock Report on Albany International

Albany International Trading Up 2.4 %

Shares of NYSE AIN traded up $1.61 during mid-day trading on Friday, hitting $69.53. 307,095 shares of the company traded hands, compared to its average volume of 156,312. The company has a quick ratio of 2.87, a current ratio of 3.59 and a debt-to-equity ratio of 0.38. Albany International has a 1 year low of $67.39 and a 1 year high of $99.41. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 2.36 and a beta of 1.25. The business has a 50 day moving average of $81.30 and a two-hundred day moving average of $85.22.

Albany International (NYSE:AIN – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.35. Albany International had a net margin of 7.92% and a return on equity of 12.28%. The business had revenue of $298.40 million for the quarter, compared to analyst estimates of $304.51 million. During the same quarter in the previous year, the business earned $1.02 earnings per share. The firm’s revenue was up 6.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Albany International will post 3.12 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Tuesday, September 3rd were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Tuesday, September 3rd. Albany International’s dividend payout ratio (DPR) is currently 32.50%.

Institutional Trading of Albany International

Hedge funds have recently bought and sold shares of the stock. Bridges Investment Management Inc. bought a new stake in shares of Albany International in the third quarter valued at about $206,000. Principal Financial Group Inc. grew its holdings in shares of Albany International by 6.6% during the 3rd quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker’s stock worth $52,071,000 after purchasing an additional 36,274 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Albany International by 16.4% during the third quarter. QRG Capital Management Inc. now owns 4,025 shares of the textile maker’s stock valued at $358,000 after purchasing an additional 567 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Albany International by 60.5% in the third quarter. Assenagon Asset Management S.A. now owns 161,340 shares of the textile maker’s stock valued at $14,335,000 after purchasing an additional 60,812 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Albany International by 20.2% in the third quarter. Blue Trust Inc. now owns 3,245 shares of the textile maker’s stock valued at $274,000 after purchasing an additional 545 shares in the last quarter. 97.37% of the stock is owned by institutional investors.

Albany International Company Profile

(Get Free Report)

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.

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