Analysts Set Albany International Corp. (NYSE:AIN) Target Price at $110.50

Shares of Albany International Corp. (NYSE:AIN) have received a consensus rating of “Moderate Buy” from the four analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $110.50.

AIN has been the subject of several research analyst reports. Bank of America restated an “underperform” rating and issued a $95.00 target price (down previously from $105.00) on shares of Albany International in a report on Thursday, March 28th. Truist Financial upped their price target on shares of Albany International from $105.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th.

Albany International Trading Up 0.3 %

Shares of Albany International stock opened at $87.68 on Monday. The company has a fifty day simple moving average of $91.56 and a 200-day simple moving average of $89.69. Albany International has a 12-month low of $78.20 and a 12-month high of $99.41. 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 stock has a market cap of $2.74 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 2.27 and a beta of 1.25.

Albany International (NYSE:AIN) last issued its earnings results on Tuesday, February 27th. The textile maker reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $298.17 million. During the same quarter in the prior year, the business posted $0.75 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, equities analysts forecast that Albany International will post 3.93 EPS for the current fiscal year.

Albany International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a $0.26 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.04 annualized dividend and a yield of 1.19%. Albany International’s dividend payout ratio (DPR) is 29.30%.

Hedge Funds Weigh In On Albany International

A number of large investors have recently bought and sold shares of the company. Essex Financial Services Inc. raised its position in Albany International by 11.3% during the 1st quarter. Essex Financial Services Inc. now owns 6,098 shares of the textile maker’s stock worth $570,000 after buying an additional 620 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Albany International by 263.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 77,510 shares of the textile maker’s stock worth $7,248,000 after buying an additional 56,179 shares during the last quarter. Raymond James & Associates raised its position in Albany International by 4.7% during the 1st quarter. Raymond James & Associates now owns 120,109 shares of the textile maker’s stock worth $11,231,000 after buying an additional 5,400 shares during the last quarter. Diversified Trust Co raised its position in Albany International by 26.8% during the 1st quarter. Diversified Trust Co now owns 8,750 shares of the textile maker’s stock worth $818,000 after buying an additional 1,850 shares during the last quarter. Finally, Gilman Hill Asset Management LLC raised its position in Albany International by 92.4% during the 1st quarter. Gilman Hill Asset Management LLC now owns 40,298 shares of the textile maker’s stock worth $3,768,000 after buying an additional 19,350 shares during the last quarter. Hedge funds and other institutional investors own 97.37% of the company’s stock.

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.