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

Albany International (NYSE:AIN) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

AIN has been the topic of a number of other reports. TD Cowen reduced their price objective on shares of Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Truist Financial decreased their target price 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. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $88.00.

Albany International Stock Down 1.9 %

Shares of AIN opened at $80.52 on Wednesday. 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 stock has a market capitalization of $2.52 billion, a PE ratio of 25.11, a P/E/G ratio of 2.63 and a beta of 1.29. The firm’s 50 day moving average is $79.27 and its 200-day moving average is $84.71. Albany International has a 12 month low of $67.39 and a 12 month high of $99.41.

Albany International (NYSE:AIN) last announced its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.35. The firm had revenue of $298.40 million during the quarter, compared to analysts’ expectations of $304.51 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.02 EPS. Equities research analysts forecast that Albany International will post 3.2 EPS for the current year.

Insider Buying and Selling

In other Albany International news, CEO Gunnar Kleveland acquired 1,400 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were bought at an average cost of $71.25 per share, with a total value of $99,750.00. Following the purchase, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joseph M. Gaug bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average cost of $71.24 per share, with a total value of $71,240.00. Following the purchase, the vice president now directly owns 6,811 shares of the company’s stock, valued at $485,215.64. This trade represents a 17.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 3,450 shares of company stock worth $245,813 in the last ninety days. Company insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hilltop National Bank grew its position in Albany International by 14.7% in the 2nd quarter. Hilltop National Bank now owns 1,045 shares of the textile maker’s stock valued at $88,000 after purchasing an additional 134 shares during the period. GAMMA Investing LLC increased its position in shares of Albany International by 27.4% during the second quarter. GAMMA Investing LLC now owns 674 shares of the textile maker’s stock worth $57,000 after acquiring an additional 145 shares in the last quarter. Creative Planning raised its holdings in shares of Albany International by 3.0% in the 2nd quarter. Creative Planning now owns 5,018 shares of the textile maker’s stock worth $424,000 after acquiring an additional 147 shares during the last quarter. Arizona State Retirement System lifted its position in Albany International by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 8,744 shares of the textile maker’s stock valued at $738,000 after acquiring an additional 175 shares in the last quarter. Finally, Dakota Wealth Management boosted its stake in Albany International by 1.5% during the 2nd quarter. Dakota Wealth Management now owns 13,211 shares of the textile maker’s stock valued at $1,116,000 after purchasing an additional 195 shares during the last quarter. 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.