Albany International (NYSE:AIN) Price Target Cut to $92.00 by Analysts at Robert W. Baird

Albany International (NYSE:AIN) had its price target trimmed by Robert W. Baird from $104.00 to $92.00 in a research report report published on Friday,Benzinga reports. The firm currently has an outperform rating on the textile maker’s stock.

Several other brokerages have also issued reports on AIN. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. TD Cowen upgraded Albany International to a “strong-buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. cut their price target on Albany International from $75.00 to $74.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Bank of America cut their price target on Albany International from $90.00 to $80.00 and set an “underperform” rating on the stock in a report on Friday, November 15th. Finally, Truist Financial increased their price target on Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.00.

Albany International Stock Up 3.8 %

Shares of Albany International stock opened at $76.58 on Friday. Albany International has a one year low of $67.39 and a one year high of $97.60. 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 stock’s 50-day moving average is $80.53 and its 200 day moving average is $81.58. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 23.93 and a beta of 1.34.

Albany International (NYSE:AIN) last announced its earnings results on Wednesday, February 26th. The textile maker reported $0.58 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.05). Albany International had a net margin of 7.92% and a return on equity of 12.20%. The business had revenue of $286.91 million for the quarter, compared to the consensus estimate of $299.52 million. Equities research analysts anticipate that Albany International will post 3.23 EPS for the current year.

Albany International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 21st will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Friday, March 21st. Albany International’s dividend payout ratio (DPR) is presently 33.75%.

Institutional Trading of Albany International

Institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Albany International in the fourth quarter worth approximately $40,000. Quarry LP increased its position in shares of Albany International by 515.4% during the third quarter. Quarry LP now owns 480 shares of the textile maker’s stock valued at $43,000 after acquiring an additional 402 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Albany International by 306.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock valued at $53,000 after acquiring an additional 503 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of Albany International by 735.6% during the fourth quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker’s stock valued at $60,000 after acquiring an additional 662 shares during the last quarter. Finally, Vestcor Inc purchased a new stake in shares of Albany International during the fourth quarter valued at 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.