Truist Financial Cuts Albany International (NYSE:AIN) Price Target to $80.00

Albany International (NYSE:AIN) had its price target lowered by Truist Financial from $88.00 to $80.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the textile maker’s stock.

A number of other equities research analysts have also weighed in on the company. StockNews.com lowered Albany International from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. reduced their target price on Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. TD Cowen raised Albany International to a “strong-buy” rating in a report on Thursday, December 19th. Bank of America reduced their price target on shares of Albany International from $80.00 to $75.00 and set an “underperform” rating for the company in a research report on Tuesday, March 25th. Finally, Robert W. Baird cut their price objective on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $80.40.

Albany International Stock Down 0.8 %

NYSE:AIN opened at $63.46 on Thursday. 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 firm has a market cap of $1.96 billion, a PE ratio of 19.83 and a beta of 1.29. The company has a 50-day moving average of $71.96 and a 200 day moving average of $76.61. Albany International has a 1-year low of $57.71 and a 1-year high of $95.47.

Albany International (NYSE:AIN) last issued its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). The company had revenue of $286.91 million for the quarter, compared to analysts’ expectations of $299.52 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. As a group, research analysts anticipate that Albany International will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 21st were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Friday, March 21st. Albany International’s dividend payout ratio (DPR) is presently 38.71%.

Hedge Funds Weigh In On Albany International

A number of large investors have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. lifted its stake in Albany International by 20.2% in the 1st quarter. QRG Capital Management Inc. now owns 4,089 shares of the textile maker’s stock valued at $282,000 after buying an additional 686 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in Albany International by 11.5% in the 1st quarter. Park Avenue Securities LLC now owns 3,320 shares of the textile maker’s stock valued at $229,000 after purchasing an additional 342 shares in the last quarter. Procyon Advisors LLC grew its holdings in shares of Albany International by 12.2% during the first quarter. Procyon Advisors LLC now owns 5,119 shares of the textile maker’s stock worth $353,000 after buying an additional 556 shares in the last quarter. Gilman Hill Asset Management LLC raised its position in shares of Albany International by 19.8% in the first quarter. Gilman Hill Asset Management LLC now owns 44,554 shares of the textile maker’s stock valued at $3,076,000 after buying an additional 7,366 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Albany International by 7,898.3% in the first quarter. GAMMA Investing LLC now owns 55,508 shares of the textile maker’s stock worth $3,832,000 after buying an additional 54,814 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors and hedge funds.

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.