Albany International (NYSE:AIN) Upgraded at StockNews.com

Albany International (NYSE:AIN) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

A number of other brokerages also recently commented on AIN. 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. Truist Financial cut their target price on Albany International from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Finally, Robert W. Baird cut their target price on Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.00.

Albany International Price Performance

Shares of AIN stock opened at $69.15 on Friday. The stock has a 50 day moving average of $67.11 and a two-hundred day moving average of $75.53. 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 12 month low of $57.71 and a 12 month high of $95.47. The company has a market capitalization of $2.09 billion, a P/E ratio of 21.61 and a beta of 1.37.

Albany International (NYSE:AIN) last announced its quarterly earnings data on Wednesday, April 30th. The textile maker reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.15. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The company had revenue of $288.77 million during the quarter, compared to the consensus estimate of $300.74 million. During the same quarter last year, the company earned $0.90 EPS. The company’s quarterly revenue was down 7.8% on a year-over-year basis. As a group, equities analysts expect that Albany International will post 3.23 EPS for the current year.

Hedge Funds Weigh In On Albany International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its holdings in Albany International by 3,050.6% during the 4th quarter. Bank of America Corp DE now owns 1,363,946 shares of the textile maker’s stock valued at $109,075,000 after purchasing an additional 1,320,654 shares in the last quarter. American Century Companies Inc. increased its holdings in Albany International by 3,380.5% during the 4th quarter. American Century Companies Inc. now owns 849,379 shares of the textile maker’s stock valued at $67,925,000 after purchasing an additional 824,975 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Albany International during the 4th quarter valued at $62,181,000. Norges Bank acquired a new stake in Albany International during the 4th quarter valued at $39,044,000. Finally, Nuveen LLC acquired a new stake in Albany International during the 1st quarter valued at $18,985,000. Institutional investors own 97.37% of the company’s stock.

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.