Albany International (NYSE:AIN) Receives “Underperform” Rating from Bank of America

Albany International (NYSE:AIN)‘s stock had its “underperform” rating restated by Bank of America in a research report issued to clients and investors on Thursday, MarketBeat reports. They presently 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 target price points to a potential downside of 1.45% from the stock’s current price.

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

Albany International Stock Up 1.9 %

Albany International stock opened at $96.40 on Thursday. Albany International has a 1-year low of $78.20 and a 1-year high of $99.41. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 3.67 and a beta of 1.26. The company has a current ratio of 3.53, a quick ratio of 2.85 and a debt-to-equity ratio of 0.47. The firm has a 50 day simple moving average of $91.82 and a 200 day simple moving average of $89.23.

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

Institutional Trading of Albany International

A number of hedge funds have recently made changes to their positions in AIN. Quadrature Capital Ltd lifted its stake in Albany International by 21.0% in the fourth quarter. Quadrature Capital Ltd now owns 6,372 shares of the textile maker’s stock worth $626,000 after purchasing an additional 1,108 shares during the last quarter. Vanguard Group Inc. lifted its stake in Albany International by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 3,518,426 shares of the textile maker’s stock worth $345,580,000 after purchasing an additional 38,446 shares during the last quarter. GSA Capital Partners LLP lifted its stake in Albany International by 12.2% in the fourth quarter. GSA Capital Partners LLP now owns 3,273 shares of the textile maker’s stock worth $321,000 after purchasing an additional 355 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Albany International by 7.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 41,902 shares of the textile maker’s stock worth $4,116,000 after purchasing an additional 3,083 shares during the last quarter. Finally, Barclays PLC lifted its stake in Albany International by 221.7% in the fourth quarter. Barclays PLC now owns 49,178 shares of the textile maker’s stock worth $4,831,000 after purchasing an additional 33,890 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.