Robert W. Baird Issues Pessimistic Forecast for Albany International (NYSE:AIN) Stock Price

Albany International (NYSE:AIN) had its target price decreased by equities research analysts at Robert W. Baird from $104.00 to $92.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the textile maker’s stock. Robert W. Baird’s price target would indicate a potential upside of 22.28% from the stock’s current price.

Other research analysts have also issued reports about the stock. StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Truist Financial raised their price objective on shares of Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. TD Cowen raised shares of Albany International to a “strong-buy” rating in a report on Thursday, December 19th. Bank of America decreased their price target on shares of Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Albany International Price Performance

AIN opened at $75.24 on Friday. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 23.41 and a beta of 1.34. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. Albany International has a twelve month low of $67.39 and a twelve month high of $97.60. The company has a fifty day simple moving average of $80.53 and a 200 day simple moving average of $81.58.

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

Institutional Trading of Albany International

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp grew its stake in shares of Albany International by 3.1% in the 3rd quarter. State Street Corp now owns 1,218,058 shares of the textile maker’s stock worth $108,544,000 after purchasing an additional 36,944 shares during the last quarter. MQS Management LLC acquired a new position in shares of Albany International in the 3rd quarter worth approximately $800,000. JPMorgan Chase & Co. grew its stake in shares of Albany International by 14.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,618 shares of the textile maker’s stock worth $7,163,000 after purchasing an additional 9,931 shares during the last quarter. Natixis Advisors LLC grew its stake in shares of Albany International by 5.4% in the 3rd quarter. Natixis Advisors LLC now owns 239,697 shares of the textile maker’s stock worth $21,297,000 after purchasing an additional 12,262 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Albany International by 6.6% in the third quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker’s stock worth $52,071,000 after acquiring an additional 36,274 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors.

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.