Albany International (NYSE:AIN) Given New $75.00 Price Target at Bank of America

Albany International (NYSE:AIN) had its price target dropped by equities research analysts at Bank of America from $80.00 to $75.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “underperform” rating on the textile maker’s stock. Bank of America‘s price objective would indicate a potential upside of 3.07% from the company’s previous close.

AIN has been the topic of a number of other research reports. Truist Financial increased their price objective on shares of Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Robert W. Baird cut their price target on Albany International from $104.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. StockNews.com downgraded Albany International from a “buy” rating to a “hold” rating in a report on Friday, February 28th. JPMorgan Chase & Co. cut their target price on Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Finally, TD Cowen upgraded shares of Albany International to a “strong-buy” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Albany International currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

Albany International Trading Up 2.7 %

NYSE AIN opened at $72.76 on Tuesday. Albany International has a one year low of $67.39 and a one year high of $96.49. 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 business has a 50 day simple moving average of $78.18 and a 200 day simple moving average of $79.47. The stock has a market capitalization of $2.25 billion, a P/E ratio of 22.74 and a beta of 1.37.

Albany International (NYSE:AIN) last released its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.05). The company had revenue of $286.91 million during the quarter, compared to the consensus estimate of $299.52 million. Albany International had a net margin of 7.92% and a return on equity of 12.20%. Research analysts expect that Albany International will post 3.23 earnings per share for the current year.

Institutional Investors Weigh In On Albany International

Institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio bought a new stake in shares of Albany International in the 4th quarter worth $40,000. Quarry LP grew its position in Albany International by 515.4% in the 3rd quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after purchasing an additional 402 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Albany International by 306.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock valued at $53,000 after buying an additional 503 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of Albany International by 735.6% during the 4th quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker’s stock worth $60,000 after buying an additional 662 shares in the last quarter. Finally, Vestcor Inc purchased a new position in shares of Albany International in the 4th quarter worth approximately $70,000. 97.37% of the stock is owned by hedge funds and other 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.