Albany International Corporation (NYSE:AIN) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Albany International Corporation (NYSE:AIN) has received an average recommendation of "Hold" from the six brokerages covering the stock, with one sell, four hold, and one strong buy rating.
• The company's most recent earnings report showed a miss on earnings per share at $0.57, below estimates of $0.73, despite revenues exceeding expectations at $311.40 million.
• Institutional investors own 97.37% of Albany International’s shares, with several hedge funds significantly increasing their positions in the second quarter, including HRT Financial LP which boosted its stake by 940.5%.

Albany International Corporation (NYSE:AIN - Get Free Report) has earned an average recommendation of "Hold" from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $71.40.

A number of equities research analysts have recently commented on AIN shares. Robert W. Baird downgraded shares of 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. Wall Street Zen upgraded shares of Albany International from a "hold" rating to a "buy" rating in a report on Friday, May 16th. 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. Truist Financial reiterated a "hold" rating and set a $55.00 price target (down from $70.00) on shares of Albany International in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Albany International from $65.00 to $77.00 and gave the stock a "neutral" rating in a report on Friday, May 16th.

Institutional Investors Weigh In On Albany International

Several hedge funds have recently modified their holdings of the stock. Public Sector Pension Investment Board boosted its position in shares of 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 worth $7,219,000 after acquiring an additional 3,626 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of 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 worth $266,000 after acquiring an additional 2,986 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Albany International by 32.4% in the second quarter. Smartleaf Asset Management LLC now owns 711 shares of the textile maker's stock worth $49,000 after acquiring an additional 174 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Albany International in the second quarter worth approximately $77,000. Finally, HRT Financial LP boosted its position in shares of Albany International by 940.5% in the second quarter. HRT Financial LP now owns 33,432 shares of the textile maker's stock worth $2,344,000 after acquiring an additional 30,219 shares during the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.

Albany International Stock Performance

NYSE:AIN opened at $62.3750 on Friday. The company has a current ratio of 3.51, a quick ratio of 2.78 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $67.17 and a two-hundred day moving average price of $69.12. Albany International has a twelve month low of $50.60 and a twelve month high of $94.20. The company has a market capitalization of $1.84 billion, a P/E ratio of 31.19, a price-to-earnings-growth ratio of 1.44 and a beta of 1.38.

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

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.

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