Brokerages Set Albany International Corp. (NYSE:AIN) PT at $79.00

Albany International Corp. (NYSE:AIN) has been given an average recommendation of “Moderate Buy” by the five brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $79.00.

A number of research analysts have recently weighed in on the company. Bank of America lowered their price target on Albany International from $75.00 to $65.00 and set an “underperform” rating on the stock in a report on Monday, June 2nd. JPMorgan Chase & Co. lifted their price objective on Albany International from $65.00 to $77.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Truist Financial reduced their price objective on Albany International from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Wall Street Zen raised Albany International from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Finally, Robert W. Baird reduced their price objective on Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a research report on Friday, February 28th.

Institutional Trading of Albany International

Institutional investors and hedge funds have recently made changes to their positions in the stock. Brooklyn Investment Group lifted its position in shares of Albany International by 2,241.2% in the first quarter. Brooklyn Investment Group now owns 398 shares of the textile maker’s stock worth $27,000 after buying an additional 381 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Albany International in the fourth quarter worth about $40,000. Smartleaf Asset Management LLC lifted its position in shares of Albany International by 306.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock worth $53,000 after buying an additional 503 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of Albany International by 735.6% in the fourth quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker’s stock worth $60,000 after buying an additional 662 shares during the last quarter. Finally, Vestcor Inc acquired a new stake in shares of Albany International in the fourth quarter worth about $70,000. Institutional investors and hedge funds own 97.37% of the company’s stock.

Albany International Stock Performance

Shares of NYSE AIN opened at $68.51 on Friday. Albany International has a 52-week low of $57.71 and a 52-week high of $95.47. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 21.41 and a beta of 1.31. The stock’s fifty day simple moving average is $65.65 and its 200 day simple moving average is $73.88.

Albany International (NYSE:AIN) last issued its quarterly earnings results on Wednesday, April 30th. The textile maker reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.15. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The business had revenue of $288.77 million for the quarter, compared to the consensus estimate of $300.74 million. During the same quarter in the previous year, the company posted $0.90 earnings per share. Albany International’s revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Albany International will post 3.23 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Friday, June 6th will be given a $0.27 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.58%. Albany International’s dividend payout ratio is currently 43.55%.

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.