Albany International (NYSE:AIN) Price Target Lowered to $96.00 at JPMorgan Chase & Co.

Albany International (NYSE:AIN) had its price objective cut by research analysts at JPMorgan Chase & Co. from $98.00 to $96.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the textile maker’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 13.41% from the stock’s previous close.

A number of other equities analysts have also weighed in on the company. Bank of America reiterated an “underperform” rating and set a $95.00 target price (down previously from $105.00) on shares of Albany International in a research note on Thursday, March 28th. Truist Financial decreased their target price on shares of Albany International from $121.00 to $104.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, TD Cowen reduced their price objective on Albany International from $106.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.00.

Albany International Trading Up 1.2 %

Shares of AIN stock traded up $0.99 on Friday, reaching $84.65. 289,734 shares of the stock were exchanged, compared to its average volume of 148,550. The stock has a 50 day moving average price of $90.68 and a 200 day moving average price of $89.60. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.99 and a quick ratio of 2.85. The stock has a market cap of $2.64 billion, a PE ratio of 23.78, a P/E/G ratio of 2.11 and a beta of 1.28. Albany International has a one year low of $78.20 and a one year high of $99.41.

Albany International (NYSE:AIN) last issued its earnings results on Tuesday, April 30th. The textile maker reported $0.90 EPS for the quarter, beating the consensus estimate of $0.87 by $0.03. Albany International had a net margin of 9.35% and a return on equity of 13.40%. The company had revenue of $313.33 million during the quarter, compared to analysts’ expectations of $313.41 million. During the same quarter in the previous year, the company posted $0.91 EPS. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. Equities research analysts forecast that Albany International will post 3.93 EPS for the current fiscal year.

Insider Activity at Albany International

In other Albany International news, CFO Robert D. Starr bought 1,000 shares of Albany International stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $84.44 per share, with a total value of $84,440.00. Following the completion of the acquisition, the chief financial officer now directly owns 2,610 shares in the company, valued at approximately $220,388.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Albany International

Institutional investors have recently added to or reduced their stakes in the stock. Orion Capital Management LLC purchased a new stake in shares of Albany International in the third quarter worth $29,000. GAMMA Investing LLC bought a new stake in Albany International during the fourth quarter valued at about $47,000. Whittier Trust Co. lifted its position in shares of Albany International by 94.7% in the first quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock valued at $51,000 after acquiring an additional 266 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of Albany International during the fourth quarter worth about $77,000. Finally, Adirondack Trust Co. purchased a new position in Albany International in the 3rd quarter worth approximately $86,000. 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.