Analysts Set Albany International Corporation (NYSE:AIN) PT at $64.25

Shares of Albany International Corporation (NYSE:AIN) have received a consensus rating of “Reduce” from the eight brokerages that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $64.25.

A number of analysts recently commented on AIN shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Albany International in a research note on Monday. JPMorgan Chase & Co. lifted their price objective on Albany International from $59.00 to $63.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Zacks Research lowered Albany International from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 18th. Finally, Truist Financial dropped their price objective on shares of Albany International from $55.00 to $50.00 and set a “hold” rating for the company in a research note on Friday, November 7th.

Insider Transactions at Albany International

In other Albany International news, CEO Gunnar Kleveland bought 2,300 shares of the stock in a transaction dated Monday, November 17th. The stock was bought at an average cost of $42.04 per share, for a total transaction of $96,692.00. Following the completion of the purchase, the chief executive officer directly owned 19,895 shares of the company’s stock, valued at approximately $836,385.80. The trade was a 13.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.76% of the company’s stock.

Institutional Trading of Albany International

Hedge funds have recently bought and sold shares of the company. Brooklyn Investment Group grew its holdings in shares of Albany International by 2,241.2% in the 1st quarter. Brooklyn Investment Group now owns 398 shares of the textile maker’s stock worth $27,000 after acquiring an additional 381 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Albany International by 227.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 540 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 375 shares during the period. Smartleaf Asset Management LLC increased its stake in Albany International by 32.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 711 shares of the textile maker’s stock worth $49,000 after purchasing an additional 174 shares in the last quarter. Osaic Holdings Inc. raised its holdings in Albany International by 42.3% during the 2nd quarter. Osaic Holdings Inc. now owns 908 shares of the textile maker’s stock worth $64,000 after buying an additional 270 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Albany International during the third quarter valued at about $66,000. 97.37% of the stock is currently owned by institutional investors.

Albany International Stock Performance

Shares of Albany International stock opened at $48.58 on Friday. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -25.04, a price-to-earnings-growth ratio of 2.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.34 and a quick ratio of 1.84. The business has a 50-day moving average of $52.08 and a 200 day moving average of $60.68. Albany International has a 12 month low of $41.15 and a 12 month high of $84.11.

Albany International (NYSE:AIN) last released its quarterly earnings data on Wednesday, May 25th. The textile maker reported $0.43 earnings per share (EPS) for the quarter. The company had revenue of $239.92 million during the quarter. Albany International had a negative net margin of 4.66% and a positive return on equity of 8.98%. As a group, sell-side analysts forecast that Albany International will post 3.23 earnings per share for the current year.

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.