Albany International (NYSE:AIN) Rating Lowered to Hold at StockNews.com

Albany International (NYSE:AIN) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other research firms have also weighed in on AIN. Bank of America reduced their target price on Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a report on Friday, November 15th. Truist Financial reduced their price objective on shares of Albany International from $91.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, TD Cowen decreased their target price on shares of Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $85.50.

Albany International Stock Performance

Shares of NYSE AIN traded down $0.97 during trading on Thursday, reaching $82.59. 162,781 shares of the stock traded hands, compared to its average volume of 166,210. Albany International has a 52-week low of $67.39 and a 52-week high of $99.41. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The company has a 50-day moving average of $78.94 and a 200-day moving average of $84.65. The stock has a market capitalization of $2.59 billion, a P/E ratio of 25.81, a price-to-earnings-growth ratio of 2.69 and a beta of 1.29.

Albany International (NYSE:AIN) last issued its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.35. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The firm had revenue of $298.40 million for the quarter, compared to analysts’ expectations of $304.51 million. During the same quarter in the prior year, the firm earned $1.02 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. Analysts forecast that Albany International will post 3.23 EPS for the current fiscal year.

Insider Buying and Selling

In other Albany International news, SVP Robert Alan Hansen bought 1,050 shares of Albany International stock in a transaction that occurred on Tuesday, November 5th. The stock was acquired at an average cost of $71.26 per share, for a total transaction of $74,823.00. Following the completion of the transaction, the senior vice president now directly owns 8,387 shares in the company, valued at $597,657.62. This represents a 14.31 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Joseph M. Gaug purchased 1,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were purchased at an average cost of $71.24 per share, with a total value of $71,240.00. Following the purchase, the vice president now owns 6,811 shares of the company’s stock, valued at approximately $485,215.64. The trade was a 17.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 3,450 shares of company stock worth $245,813 over the last ninety days. 0.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Albany International

Several hedge funds have recently added to or reduced their stakes in AIN. Vanguard Group Inc. lifted its stake in shares of Albany International by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock valued at $330,041,000 after acquiring an additional 11,052 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of Albany International by 2.1% in the 2nd quarter. Earnest Partners LLC now owns 2,592,787 shares of the textile maker’s stock valued at $218,961,000 after acquiring an additional 53,743 shares during the last quarter. State Street Corp lifted 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 valued at $108,544,000 after acquiring an additional 36,944 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Albany International by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker’s stock valued at $92,192,000 after acquiring an additional 52,909 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Albany International by 24.0% in the 3rd quarter. Victory Capital Management Inc. now owns 847,829 shares of the textile maker’s stock valued at $75,330,000 after acquiring an additional 163,934 shares during the last quarter. 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.