Albany International (NYSE:AIN) Given New $80.00 Price Target at Truist Financial

Albany International (NYSE:AIN) had its target price cut by Truist Financial from $88.00 to $80.00 in a report published on Thursday morning,Benzinga reports. They currently have a buy rating on the textile maker’s stock.

Other analysts have also recently issued research reports about the company. Bank of America reduced their price objective on Albany International from $80.00 to $75.00 and set an “underperform” rating for the company in a research report on Tuesday, March 25th. JPMorgan Chase & Co. lowered their price objective on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. StockNews.com downgraded shares of Albany International from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Robert W. Baird decreased their price target on shares of Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. Finally, TD Cowen raised shares of Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Albany International has an average rating of “Moderate Buy” and a consensus price target of $80.40.

Albany International Price Performance

NYSE AIN opened at $63.46 on Thursday. Albany International has a one year low of $57.71 and a one year high of $95.47. The stock has a 50-day moving average of $72.31 and a 200 day moving average of $76.85. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 19.83 and a beta of 1.29.

Albany International (NYSE:AIN) last released 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). Albany International had a net margin of 7.92% and a return on equity of 12.20%. The company had revenue of $286.91 million for the quarter, compared to analysts’ expectations of $299.52 million. On average, sell-side analysts forecast that Albany International will post 3.23 EPS for the current year.

Albany International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 21st were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.70%. The ex-dividend date was Friday, March 21st. Albany International’s dividend payout ratio (DPR) is presently 38.71%.

Hedge Funds Weigh In On Albany International

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its holdings in Albany International by 14.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,618 shares of the textile maker’s stock valued at $7,163,000 after acquiring an additional 9,931 shares during the last quarter. Advantage Alpha Capital Partners LP lifted its position in shares of Albany International by 18.1% in the fourth quarter. Advantage Alpha Capital Partners LP now owns 28,164 shares of the textile maker’s stock worth $2,252,000 after buying an additional 4,307 shares in the last quarter. Principal Financial Group Inc. increased its stake in Albany International by 6.6% in the 3rd 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 during the last quarter. Vanguard Group Inc. raised its holdings in shares of Albany International by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 3,493,846 shares of the textile maker’s stock worth $279,403,000 after acquiring an additional 12,687 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Albany International by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 715,779 shares of the textile maker’s stock valued at $63,609,000 after acquiring an additional 8,356 shares during the last quarter. Hedge funds and other institutional investors own 97.37% of the company’s stock.

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.