Albany International (NYSE:AIN) Price Target Cut to $81.00

Albany International (NYSE:AIN) had its price objective cut by stock analysts at TD Cowen from $95.00 to $81.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the textile maker’s stock. TD Cowen’s price objective indicates a potential upside of 4.22% from the stock’s current price.

A number of other analysts have also recently commented on AIN. StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Truist Financial reduced their target price on Albany International from $101.00 to $91.00 and set a “buy” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Albany International has an average rating of “Hold” and a consensus price target of $89.50.

Albany International Price Performance

Shares of Albany International stock opened at $77.72 on Friday. The firm has a market cap of $2.42 billion, a PE ratio of 21.83, a P/E/G ratio of 2.42 and a beta of 1.25. Albany International has a twelve month low of $77.07 and a twelve month high of $99.41. The company has a quick ratio of 2.87, a current ratio of 3.59 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average price of $87.95 and a 200 day moving average price of $87.84.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Tuesday, August 6th. The textile maker reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Albany International had a net margin of 8.76% and a return on equity of 13.13%. The business had revenue of $331.99 million during the quarter, compared to analysts’ expectations of $318.17 million. During the same quarter last year, the firm earned $0.90 earnings per share. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. Sell-side analysts predict that Albany International will post 3.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Central Pacific Bank Trust Division lifted its position in Albany International by 40.3% during the third quarter. Central Pacific Bank Trust Division now owns 1,985 shares of the textile maker’s stock worth $176,000 after buying an additional 570 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Albany International during the 2nd quarter worth $1,182,000. Sanctuary Advisors LLC purchased a new position in shares of Albany International during the 2nd quarter worth $1,322,000. Point72 Asset Management L.P. boosted its position in shares of Albany International by 119.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 5,700 shares of the textile maker’s stock valued at $481,000 after acquiring an additional 3,100 shares during the last quarter. Finally, Creative Planning grew its holdings in shares of Albany International by 3.0% in the second quarter. Creative Planning now owns 5,018 shares of the textile maker’s stock valued at $424,000 after purchasing an additional 147 shares during the period. 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.