Albany International Corporation (NYSE:AIN) Receives $71.40 Average Price Target from Brokerages

Key Points

• Albany International Corporation (NYSE:AIN) has an average recommendation of "Hold" from six analysts, with one sell, four holds, and one strong buy rating.
• The company's stock price target has seen recent downgrades, with Truist Financial lowering its target to $55.00, and Bank of America reducing its target to $65.00.
• Albany International has announced a quarterly dividend of $0.27 per share, which will be paid on October 7th, reflecting an annualized yield of 1.9%.

Albany International Corporation (NYSE:AIN - Get Free Report) has been given an average recommendation of "Hold" by the six analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $71.40.

Several equities research analysts have recently commented on the company. Bank of America cut their price objective on Albany International from $75.00 to $65.00 and set an "underperform" rating for the company in a report on Monday, June 2nd. Truist Financial reissued a "hold" rating and set a $55.00 target price (down previously from $70.00) on shares of Albany International in a research note on Friday, August 1st. Baird R W downgraded Albany International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Finally, Robert W. Baird downgraded Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 price target for the company. in a report on Thursday, July 31st.

Albany International Price Performance

AIN stock traded down $1.33 on Tuesday, hitting $56.27. 648,460 shares of the company's stock traded hands, compared to its average volume of 216,118. The stock has a fifty day moving average of $63.57 and a 200-day moving average of $66.46. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 28.14, a P/E/G ratio of 1.37 and a beta of 1.39. Albany International has a 1-year low of $50.60 and a 1-year high of $89.25. The company has a current ratio of 3.51, a quick ratio of 2.78 and a debt-to-equity ratio of 0.50.

Albany International (NYSE:AIN - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The textile maker reported $0.57 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.16). The business had revenue of $311.40 million for the quarter, compared to the consensus estimate of $306.06 million. Albany International had a net margin of 5.25% and a return on equity of 8.87%. The firm's revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.89 EPS. Albany International has set its FY 2025 guidance at 3.000-3.400 EPS. On average, analysts forecast that Albany International will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Tuesday, September 2nd. Albany International's payout ratio is currently 54.00%.

Institutional Investors Weigh In On Albany International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its stake in shares of Albany International by 37.6% during the 2nd quarter. American Century Companies Inc. now owns 1,697,965 shares of the textile maker's stock worth $119,079,000 after acquiring an additional 464,040 shares in the last quarter. Nuveen LLC purchased a new position in shares of Albany International during the 1st quarter worth $18,985,000. Select Equity Group L.P. raised its stake in Albany International by 784.2% during the first quarter. Select Equity Group L.P. now owns 126,262 shares of the textile maker's stock worth $8,717,000 after purchasing an additional 111,983 shares during the period. Jane Street Group LLC purchased a new stake in shares of Albany International during the 1st quarter valued at approximately $7,468,000. Finally, Millennium Management LLC raised its holdings in Albany International by 464.4% in the 1st quarter. Millennium Management LLC now owns 91,934 shares of the textile maker's stock valued at $6,347,000 after buying an additional 75,644 shares during the period. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

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.