Analysts Set Albany International Corp. (NYSE:AIN) Target Price at $110.50

Shares of Albany International Corp. (NYSE:AIN) have been given a consensus rating of “Moderate Buy” by the four research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $110.50.

A number of research analysts recently commented on AIN shares. Truist Financial increased their target price on Albany International from $105.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Bank of America restated an “underperform” rating and issued a $95.00 target price (down previously from $105.00) on shares of Albany International in a research report on Thursday, March 28th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Orion Capital Management LLC purchased a new position in shares of Albany International in the third quarter valued at about $29,000. GAMMA Investing LLC bought a new position in Albany International during the 4th quarter valued at approximately $47,000. Principal Securities Inc. purchased a new stake in Albany International in the 4th quarter worth approximately $77,000. Adirondack Trust Co. bought a new stake in shares of Albany International in the 3rd quarter worth approximately $86,000. Finally, TFO Wealth Partners LLC increased its stake in shares of Albany International by 109,100.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,092 shares of the textile maker’s stock valued at $98,000 after buying an additional 1,091 shares during the period. 97.37% of the stock is owned by hedge funds and other institutional investors.

Albany International Price Performance

AIN stock opened at $87.68 on Monday. The firm has a 50 day moving average of $91.56 and a 200-day moving average of $89.73. The firm has a market capitalization of $2.74 billion, a P/E ratio of 24.70, a price-to-earnings-growth ratio of 2.26 and a beta of 1.25. Albany International has a 12 month low of $78.20 and a 12 month high of $99.41. The company has a current ratio of 3.53, a quick ratio of 2.85 and a debt-to-equity ratio of 0.47.

Albany International (NYSE:AIN) last issued its quarterly earnings results on Tuesday, February 27th. The textile maker reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.38. The firm had revenue of $323.60 million during the quarter, compared to the consensus estimate of $298.17 million. Albany International had a return on equity of 13.70% and a net margin of 9.68%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the company posted $0.75 EPS. As a group, sell-side analysts predict that Albany International will post 3.93 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a $0.26 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.04 annualized dividend and a yield of 1.19%. Albany International’s payout ratio is currently 29.30%.

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.