Albany International Corporation (NYSE:AIN) Receives $71.40 Consensus Price Target from Analysts

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 been assigned an average rating of "Hold" from the six ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $71.40.

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Robert W. Baird lowered shares of Albany International from an "outperform" rating to a "neutral" rating and set a $79.00 target price on the stock. in a report on Thursday, July 31st. Truist Financial reiterated a "hold" rating and set a $55.00 target price (down from $70.00) on shares of Albany International in a report on Friday, August 1st. Baird R W lowered shares of Albany International from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Finally, Bank of America reduced their target price on shares of Albany International from $75.00 to $65.00 and set an "underperform" rating on the stock in a report on Monday, June 2nd.

Albany International Trading Down 0.9%

NYSE:AIN traded down $0.55 on Friday, hitting $63.55. The stock had a trading volume of 38,242 shares, compared to its average volume of 265,846. The company has a quick ratio of 2.78, a current ratio of 3.51 and a debt-to-equity ratio of 0.50. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 1.55 and a beta of 1.38. The company has a fifty day moving average price of $66.98 and a two-hundred day moving average price of $68.69. Albany International has a 1-year low of $50.60 and a 1-year high of $94.20.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.16). The company had revenue of $311.40 million during 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%. Albany International's revenue was down 6.2% on a year-over-year basis. During the same period last year, the firm posted $0.89 earnings per share. Albany International has set its FY 2025 guidance at 3.000-3.400 EPS. Equities research analysts expect that Albany International will post 3.23 earnings per share for the current fiscal year.

Albany International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 2nd will be given a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.7%. Albany International's dividend payout ratio is currently 54.00%.

Institutional Investors Weigh In On Albany International

A number of large investors have recently modified their holdings of the company. Cetera Investment Advisers increased its position in shares of Albany International by 3.7% in the 4th quarter. Cetera Investment Advisers now owns 3,730 shares of the textile maker's stock valued at $298,000 after purchasing an additional 133 shares during the last quarter. Blue Trust Inc. increased its position in shares of Albany International by 5.6% in the 2nd quarter. Blue Trust Inc. now owns 3,237 shares of the textile maker's stock valued at $227,000 after purchasing an additional 172 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Albany International by 32.4% in the 2nd 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 during the last quarter. California State Teachers Retirement System grew its position in shares of Albany International by 0.6% in the 2nd quarter. California State Teachers Retirement System now owns 28,783 shares of the textile maker's stock valued at $2,019,000 after buying an additional 179 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its position in shares of Albany International by 2.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 6,960 shares of the textile maker's stock valued at $488,000 after buying an additional 193 shares during the last quarter. 97.37% of the stock is 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.