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

Key Points

• Albany International Corporation has received a consensus recommendation of "Moderate Buy" from five brokerages covering the stock, with a 1-year target price averaging $79.00.
• The company reported a quarterly EPS of $0.73, surpassing analysts' estimates, yet its revenue of $288.77 million was down 7.8% year-over-year.
• Albany International declared a quarterly dividend of $0.27 per share, indicating a annualized dividend yield of 1.50%.

Shares of Albany International Corporation (NYSE:AIN - Get Free Report) have been given a consensus rating of "Hold" by the five research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $76.40.

A number of equities analysts have commented on the stock. Truist Financial reduced their price target on shares of Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Bank of America reduced their price objective on Albany International from $75.00 to $65.00 and set an "underperform" rating on the stock in a research note on Monday, June 2nd. JPMorgan Chase & Co. lifted their price target on Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a report 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 price objective on the stock. in a report on Thursday. Finally, Wall Street Zen upgraded shares of Albany International from a "hold" rating to a "buy" rating in a research report on Friday, May 16th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brooklyn Investment Group boosted its holdings in Albany International by 2,241.2% during the first quarter. Brooklyn Investment Group now owns 398 shares of the textile maker's stock worth $27,000 after buying an additional 381 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Albany International during the fourth quarter valued at approximately $40,000. Sterling Capital Management LLC increased its stake in Albany International by 735.6% in the fourth quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker's stock valued at $60,000 after purchasing an additional 662 shares in the last quarter. Covestor Ltd boosted its position in shares of Albany International by 110.4% during the fourth quarter. Covestor Ltd now owns 888 shares of the textile maker's stock worth $71,000 after purchasing an additional 466 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Albany International in the 4th quarter valued at $88,000. 97.37% of the stock is currently owned by institutional investors.

Albany International Stock Performance

Shares of NYSE AIN traded down $18.83 during mid-day trading on Monday, hitting $52.13. The company had a trading volume of 1,055,868 shares, compared to its average volume of 251,303. Albany International has a 12 month low of $50.60 and a 12 month high of $95.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.70 and a quick ratio of 2.92. The firm has a market cap of $1.57 billion, a P/E ratio of 20.82, a PEG ratio of 1.66 and a beta of 1.31. The business's 50-day simple moving average is $69.00 and its 200-day simple moving average is $71.30.

Albany International (NYSE:AIN - Get Free Report) last issued its 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). Albany International had a return on equity of 9.79% and a net margin of 6.44%. The company had revenue of $311.40 million during the quarter, compared to analyst estimates of $306.06 million. During the same period in the previous year, the company posted $0.89 earnings per share. The company's quarterly revenue was down 6.2% on a year-over-year basis. As a group, analysts predict that Albany International will post 3.23 earnings per share for the current fiscal year.

Albany International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Friday, June 6th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Friday, June 6th. Albany International's dividend payout ratio is presently 43.55%.

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.