Bank of America Cuts Albany International (NYSE:AIN) Price Target to $75.00

Albany International (NYSE:AIN) had its price objective trimmed by Bank of America from $80.00 to $75.00 in a research note released on Tuesday,Benzinga reports. The firm currently has an underperform rating on the textile maker’s stock.

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

Albany International Price Performance

AIN stock opened at $72.15 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. The company’s fifty day moving average price is $77.70 and its 200-day moving average price is $79.30. Albany International has a one year low of $67.39 and a one year high of $95.47. The company has a market capitalization of $2.23 billion, a PE ratio of 22.55 and a beta of 1.37.

Albany International (NYSE:AIN) last announced its quarterly 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). The company had revenue of $286.91 million during the quarter, compared to analysts’ expectations of $299.52 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. On average, equities analysts anticipate that Albany International will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 21st will be issued a $0.27 dividend. The ex-dividend date is Friday, March 21st. This represents a $1.08 annualized dividend and a dividend yield of 1.50%. Albany International’s dividend payout ratio (DPR) is presently 38.71%.

Hedge Funds Weigh In On Albany International

Several hedge funds have recently added to or reduced their stakes in AIN. Quarry LP lifted its stake in Albany International by 515.4% in the third quarter. Quarry LP now owns 480 shares of the textile maker’s stock worth $43,000 after purchasing an additional 402 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Albany International during the 4th quarter worth approximately $40,000. Smartleaf Asset Management LLC lifted its stake in shares of Albany International by 306.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock worth $53,000 after acquiring an additional 503 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in Albany International by 735.6% during the 4th 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 period. Finally, Vestcor Inc bought a new position in Albany International in the 4th quarter valued at $70,000. 97.37% of the stock is currently 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.