Albany International (NYSE:AIN) Upgraded by StockNews.com to “Buy” Rating

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

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their target price on shares of Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. TD Cowen raised Albany International to a “strong-buy” rating in a research report on Thursday, December 19th. Truist Financial upped their target price on Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, Bank of America lowered their price target on Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $80.75.

Albany International Stock Down 0.6 %

NYSE AIN traded down $0.51 on Thursday, reaching $80.76. The company had a trading volume of 180,269 shares, compared to its average volume of 193,991. The company’s fifty day moving average is $81.37 and its 200-day moving average is $83.05. Albany International has a 1-year low of $67.39 and a 1-year high of $98.73. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 25.24 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68.

Albany International (NYSE:AIN) last posted its quarterly earnings data 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. The business had revenue of $298.40 million during the quarter, compared to the consensus estimate of $304.51 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. Albany International’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the company earned $1.02 earnings per share. On average, research analysts forecast that Albany International will post 3.24 earnings per share for the current fiscal year.

Insider Activity

In other Albany International news, CEO Gunnar Kleveland purchased 1,400 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was acquired 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 trade represents a 20.34 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Robert Alan Hansen acquired 1,050 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was bought at an average price of $71.26 per share, for a total transaction of $74,823.00. Following the completion of the acquisition, the senior vice president now owns 8,387 shares of the company’s stock, valued at approximately $597,657.62. The trade was a 14.31 % 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 valued at $245,813 over the last three months. Insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AIN. Quarry LP grew its position in shares of Albany International by 515.4% in the third quarter. Quarry LP now owns 480 shares of the textile maker’s stock valued at $43,000 after purchasing an additional 402 shares during the last quarter. GAMMA Investing LLC boosted its stake in Albany International by 33.4% in the 3rd quarter. GAMMA Investing LLC now owns 899 shares of the textile maker’s stock valued at $80,000 after purchasing an additional 225 shares during the period. KBC Group NV boosted its stake in Albany International by 28.9% in the 3rd quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock valued at $94,000 after purchasing an additional 237 shares during the period. Central Pacific Bank Trust Division grew its holdings in Albany International by 40.3% in the 3rd quarter. Central Pacific Bank Trust Division now owns 1,985 shares of the textile maker’s stock valued at $176,000 after buying an additional 570 shares in the last quarter. Finally, Bridges Investment Management Inc. bought a new position in Albany International during the 3rd quarter worth $206,000. 97.37% of the stock is 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.