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

StockNews.com cut shares of Albany International (NYSE:AIN) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

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

Albany International Stock Performance

AIN opened at $82.59 on Thursday. 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 cap of $2.59 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 2.69 and a beta of 1.29. The stock has a 50-day moving average of $78.94 and a 200-day moving average of $84.65. Albany International has a 52-week low of $67.39 and a 52-week high of $99.41.

Albany International (NYSE:AIN) last announced its 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 return on equity of 12.20% and a net margin of 7.92%. The firm had revenue of $298.40 million during the quarter, compared to analysts’ expectations of $304.51 million. During the same quarter in the prior year, the business earned $1.02 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. As a group, equities research analysts forecast that Albany International will post 3.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Albany International news, CEO Gunnar Kleveland purchased 1,400 shares of the stock in a transaction on Tuesday, November 5th. The shares were purchased at an average price of $71.25 per share, with a total value of $99,750.00. Following the acquisition, the chief executive officer now directly owns 8,284 shares of the company’s stock, valued at $590,235. This represents a 20.34 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Joseph M. Gaug acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was acquired at an average price of $71.24 per share, with a total value of $71,240.00. Following the purchase, the vice president now owns 6,811 shares in the company, valued at approximately $485,215.64. This represents a 17.21 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 3,450 shares of company stock valued at $245,813 over the last three months. 0.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Albany International

Several large investors have recently modified their holdings of AIN. UniSuper Management Pty Ltd acquired a new stake in Albany International in the 1st quarter valued at $679,000. MQS Management LLC acquired a new stake in shares of Albany International in the 3rd quarter valued at $800,000. Assenagon Asset Management S.A. grew its holdings in shares of Albany International by 29.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 100,528 shares of the textile maker’s stock worth $8,490,000 after purchasing an additional 23,018 shares during the last quarter. Natixis Advisors LLC increased its position in shares of Albany International by 5.4% during the 3rd quarter. Natixis Advisors LLC now owns 239,697 shares of the textile maker’s stock worth $21,297,000 after purchasing an additional 12,262 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in 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. 97.37% of the stock is currently owned by institutional investors.

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.