Albany International (NYSE:AIN) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Albany International (NYSE:AIN) from a buy rating to a hold rating in a report published on Thursday.

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

Albany International Stock Up 2.7 %

Shares of Albany International stock opened at $84.78 on Thursday. The company’s fifty day simple moving average is $78.88 and its two-hundred day simple moving average is $84.63. Albany International has a 12-month low of $67.39 and a 12-month high of $99.41. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. The company has a market cap of $2.65 billion, a P/E ratio of 26.49, a PEG ratio of 2.66 and a beta of 1.29.

Albany International (NYSE:AIN) last released its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.35. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The company had revenue of $298.40 million during the quarter, compared to the consensus estimate of $304.51 million. During the same period in the prior year, the firm earned $1.02 earnings per share. Albany International’s revenue was up 6.2% on a year-over-year basis. Research analysts anticipate that Albany International will post 3.23 EPS for the current year.

Insider Activity at Albany International

In other Albany International news, VP Joseph M. Gaug acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were bought at an average cost of $71.24 per share, with a total value of $71,240.00. Following the completion of the transaction, the vice president now directly owns 6,811 shares of the company’s stock, valued at approximately $485,215.64. This represents a 17.21 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gunnar Kleveland bought 1,400 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was acquired at an average cost of $71.25 per share, with a total value of $99,750.00. Following the transaction, the chief executive officer now owns 8,284 shares in the company, valued at $590,235. The trade was a 20.34 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 3,450 shares of company stock valued at $245,813. 0.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Albany International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in shares of Albany International during the 1st quarter valued at $102,000. Russell Investments Group Ltd. boosted its position in Albany International by 3,897.2% in the first quarter. Russell Investments Group Ltd. now owns 2,878 shares of the textile maker’s stock worth $269,000 after purchasing an additional 2,806 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Albany International by 36.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 12,172 shares of the textile maker’s stock valued at $1,088,000 after purchasing an additional 3,233 shares during the period. Vanguard Group Inc. increased its position in shares of Albany International by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 3,529,478 shares of the textile maker’s stock valued at $330,041,000 after purchasing an additional 11,052 shares during the last quarter. Finally, UniSuper Management Pty Ltd purchased a new stake in shares of Albany International during the 1st quarter valued at about $679,000. 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.