Albany International (NYSE:AIN)The stock had its “neutral” rating reissued by Bank of America in a research report released Tuesday to clients and investors, Benzinga reports. They currently have a price target of $90.00 on shares of the textile maker, down from their previous price target of $105.00. Bank of America’s price target indicates upside potential of 1.59% from the current stock price.
Several other research companies have also recently published reports on AIN. Zacks Investment Research downgraded shares of Albany International from a “hold” rating to a “sell” rating in a Monday, Jan. 10, report. Truist Financial upgraded Albany International shares from a “hold” rating to a “buy” rating and raised its price target for the company from $85.00 to $100.00 in a Friday 7th report. January.
NYSE AIN shares opened at $88.59 on Tuesday. The company’s fifty-day moving average price is $86.83. Albany International has a 1-year low of $74.17 and a 1-year high of $93.43. The stock has a market capitalization of $2.86 billion, a P/E ratio of 24.27, a PEG ratio of 5.45 and a beta of 1.36. The company has a debt ratio of 0.40, a current ratio of 3.65 and a quick ratio of 3.49.
Albany International (NYSE:AIN) last reported quarterly results on Monday, February 14. The textile maker reported earnings per share (EPS) of $0.86 for the quarter, beating the Zacks consensus estimate of $0.64 by $0.22. Albany International had a net margin of 12.75% and a return on equity of 13.44%. In the same quarter of the previous year, the company achieved EPS of $0.89. As a group, stock analysts predict Albany International will post earnings per share of 3.27 for the current fiscal year.
In other news, insider Daniel A. Halftermeyer sold 5,000 shares in a trade dated Wednesday, Dec. 22. The shares were sold at an average price of $89.10, for a total value of $445,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. 5.78% of the shares are held by company insiders.
Several hedge funds and other institutional investors have recently changed their holdings in the company. Deutsche Bank AG increased its position in Albany International by 4.3% during the fourth quarter. Deutsche Bank AG now owns 20,793 shares of the textile maker worth $1,839,000 after buying 860 additional shares in the last quarter. California State Teachers Retirement System increased its position in Albany International by 2.3% during the fourth quarter. California State Teachers Retirement System now owns 42,758 shares of the textile maker worth $3,782,000 after buying 969 additional shares in the last quarter. Parametric Portfolio Associates LLC increased its position in Albany International by 15.5% during the fourth quarter. Parametric Portfolio Associates LLC now owns 81,276 shares of the textile maker worth $7,189,000 after buying an additional 10,922 shares in the last quarter. The Tennessee State Treasury Department increased its position in Albany International by 6.7% during the fourth quarter. The Tennessee State Treasury Department now owns 20,287 shares of the textile maker worth $1,795,000 after buying 1,273 additional shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Albany International by 0.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 26,351 shares of the textile maker worth $2,331,000 after buying 178 additional shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company’s shares.
About Albany International
Albany International Corp. engages in the processing of textiles and materials. It operates through the following segments: Machine Clothing and Albany Engineered Composites. The Machine Clothing segment provides fabrics used in the manufacturing process of the pulp, corrugator, nonwovens, fiber cement, building products, tannery and textile industries.
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