Albany International (NYSE:AIN) Stock Rating Reaffirmed by Bank of America

Albany International (NYSE:AIN)‘s stock had its “underperform” rating restated by research analysts at Bank of America in a research report issued on Thursday, Marketbeat.com reports. They currently have a $95.00 price target on the textile maker’s stock, down from their prior price target of $105.00. Bank of America‘s price objective suggests a potential downside of 1.45% from the stock’s current price.

AIN has been the subject of several other research reports. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a research note on Tuesday, December 19th. TheStreet raised Albany International from a “c+” rating to a “b-” rating in a research note on Tuesday, December 12th. Finally, Truist Financial raised their target price on Albany International from $105.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $110.50.

Albany International Price Performance

Shares of AIN opened at $96.40 on Thursday. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 3.67 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.85 and a current ratio of 3.53. Albany International has a one year low of $78.20 and a one year high of $99.41. The stock’s fifty day moving average is $91.82 and its 200-day moving average is $89.23.

Albany International (NYSE:AIN) last issued its quarterly earnings results on Tuesday, February 27th. The textile maker reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.38. The company had revenue of $323.60 million for the quarter, compared to analyst estimates of $298.17 million. Albany International had a return on equity of 13.70% and a net margin of 9.68%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period last year, the company earned $0.75 earnings per share. Equities analysts anticipate that Albany International will post 3.9 EPS for the current year.

Institutional Investors Weigh In On Albany International

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its position in Albany International by 1.1% during the 1st quarter. BlackRock Inc. now owns 4,948,017 shares of the textile maker’s stock worth $417,218,000 after acquiring an additional 51,597 shares during the period. Vanguard Group Inc. boosted its position in Albany International by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 3,518,426 shares of the textile maker’s stock worth $345,580,000 after acquiring an additional 38,446 shares during the period. Earnest Partners LLC boosted its position in Albany International by 2.0% during the 3rd quarter. Earnest Partners LLC now owns 2,335,560 shares of the textile maker’s stock worth $201,512,000 after acquiring an additional 45,158 shares during the period. Dimensional Fund Advisors LP boosted its position in Albany International by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,151,310 shares of the textile maker’s stock worth $97,080,000 after acquiring an additional 29,943 shares during the period. Finally, State Street Corp boosted its position in Albany International by 0.5% during the 3rd quarter. State Street Corp now owns 1,082,808 shares of the textile maker’s stock worth $85,587,000 after acquiring an additional 5,426 shares during the period. 97.37% of the stock is currently owned by institutional investors and hedge funds.

About Albany International

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.