Albany International (NYSE:AIN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.
According to Zacks, “Albany International Corp. is a global advanced textiles and materials processing company. Albany International has two core businesses, The Machine Clothing segment is the world’s leading producer of custom-designed fabrics and belts essential to production in the paper, nonwovens, and other process industries. Albany Engineered Composites (AEC) is a rapidly growing supplier of highly engineered composite parts for the aerospace industry. Albany International products and technologies help make paper smoother, tissue softer, and aircraft engines and structures lighter. “
A number of other equities analysts also recently commented on AIN. Stephens began coverage on shares of Albany International in a research note on Tuesday, March 6th. They set a “weight” rating and a $64.00 target price on the stock. ValuEngine upgraded shares of Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Noble Financial initiated coverage on shares of Albany International in a research report on Tuesday, January 9th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Albany International currently has a consensus rating of “Hold” and an average price target of $64.00.
Albany International (NYSE:AIN) last issued its earnings results on Monday, February 5th. The textile maker reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. Albany International had a net margin of 3.58% and a return on equity of 9.43%. The company had revenue of $226.73 million for the quarter, compared to the consensus estimate of $219.00 million. analysts anticipate that Albany International will post 2.04 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Elkfork Partners LLC acquired a new stake in shares of Albany International during the fourth quarter valued at about $187,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Albany International during the fourth quarter valued at about $218,000. Envestnet Asset Management Inc. increased its position in shares of Albany International by 71.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 6,172 shares of the textile maker’s stock valued at $379,000 after acquiring an additional 2,564 shares during the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of Albany International during the fourth quarter valued at about $759,000. Finally, Millennium Management LLC increased its position in shares of Albany International by 212.2% during the fourth quarter. Millennium Management LLC now owns 12,867 shares of the textile maker’s stock valued at $791,000 after acquiring an additional 8,745 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.
About Albany International
Albany International Corp. is focused on textiles and materials processing business. The Company operates through two segments: Machine Clothing and Albany Engineered Composites. The Company’s Machine Clothing segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, nonwovens, fiber cement and various other industrial applications.
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