Albany International Corporation (NYSE:AIN) Given Average Recommendation of "Hold" by 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%.

Shares of Albany International Corporation (NYSE:AIN - Get Free Report) have received a consensus rating of "Hold" from the six analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $71.40.

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

Albany International Stock Up 0.3%

AIN opened at $58.24 on Tuesday. The firm has a 50-day simple moving average of $64.66 and a two-hundred day simple moving average of $66.81. Albany International has a 52 week low of $50.60 and a 52 week high of $89.66. The company has a market capitalization of $1.72 billion, a PE ratio of 29.12, a price-to-earnings-growth ratio of 1.38 and a beta of 1.39. The company has a quick ratio of 2.78, a current ratio of 3.51 and a debt-to-equity ratio of 0.50.

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

Albany International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 2nd will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, September 2nd. Albany International's dividend payout ratio (DPR) is 54.00%.

Institutional Investors Weigh In On Albany International

Several institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. lifted its stake in shares of Albany International by 42.3% during the second quarter. Osaic Holdings Inc. now owns 908 shares of the textile maker's stock worth $64,000 after buying an additional 270 shares during the period. Public Sector Pension Investment Board increased its holdings in Albany International by 3.7% in the second quarter. Public Sector Pension Investment Board now owns 102,933 shares of the textile maker's stock valued at $7,219,000 after buying an additional 3,626 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Albany International by 369.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,795 shares of the textile maker's stock valued at $266,000 after buying an additional 2,986 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Albany International by 32.4% in the second quarter. Smartleaf Asset Management LLC now owns 711 shares of the textile maker's stock valued at $49,000 after buying an additional 174 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of Albany International during the second quarter worth about $77,000. 97.37% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.