Albany International's (AIN) Hold Rating Reiterated at Truist Financial

Key Points

• Truist Financial downgraded Albany International from a "buy" rating to a "hold" rating, lowering their price target from $70.00 to $55.00.
• The company's quarterly earnings fell short of expectations, with an EPS of $0.57 compared to the consensus estimate of $0.73.
• Institutional investors hold 97.37% of Albany International's stock, indicating strong interest in the company among large financial entities.

Albany International (NYSE:AIN - Get Free Report)'s stock had its "hold" rating reissued by equities researchers at Truist Financial in a research note issued to investors on Friday, MarketBeat Ratings reports. They presently have a $55.00 price target on the textile maker's stock, down from their previous price target of $70.00. Truist Financial's target price suggests a potential downside of 7.78% from the stock's current price.

A number of other research firms have also issued reports on AIN. Wall Street Zen raised Albany International from a "hold" rating to a "buy" rating in a report on Friday, May 16th. JPMorgan Chase & Co. raised their target price on Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Bank of America lowered their target price on Albany International from $75.00 to $65.00 and set an "underperform" rating on the stock in a report on Monday, June 2nd. Baird R W cut Albany International from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Finally, Robert W. Baird cut 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Albany International currently has an average rating of "Hold" and a consensus target price of $71.40.

Albany International Stock Up 2.0%

NYSE:AIN traded up $1.19 during mid-day trading on Friday, reaching $59.64. The stock had a trading volume of 266,912 shares, compared to its average volume of 261,572. The business's 50 day moving average is $68.44 and its 200 day moving average is $70.65. Albany International has a fifty-two week low of $50.60 and a fifty-two week high of $94.20. The stock has a market cap of $1.80 billion, a P/E ratio of 29.82, a PEG ratio of 1.31 and a beta of 1.38. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.51 and a quick ratio of 2.78.

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). Albany International had a return on equity of 8.87% and a net margin of 5.25%. The company had revenue of $311.40 million during the quarter, compared to analyst estimates of $306.06 million. During the same quarter last year, the firm posted $0.89 earnings per share. The firm's revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, sell-side analysts predict that Albany International will post 3.23 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Brooklyn Investment Group grew its stake in shares of Albany International by 2,241.2% during the first quarter. Brooklyn Investment Group now owns 398 shares of the textile maker's stock valued at $27,000 after purchasing an additional 381 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Albany International during the 4th quarter worth approximately $40,000. Sterling Capital Management LLC increased its stake in Albany International by 735.6% during the 4th quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker's stock worth $60,000 after purchasing an additional 662 shares in the last quarter. Covestor Ltd increased its stake in Albany International by 110.4% during the 4th 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, Hilltop National Bank bought a new stake in Albany International during the 2nd quarter worth approximately $101,000. Institutional investors own 97.37% of the company's stock.

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.