Albany International (NYSE:AIN) Rating Increased to Hold at Zacks Research

Key Points

• Albany International's rating was upgraded by Zacks Research from "strong sell" to "hold," reflecting a cautious outlook from analysts.
• Analysts currently have a consensus rating of "Hold" for Albany International, with a price target averaging $65.50.
• The company reported $0.43 EPS in its latest quarterly earnings, with a projected EPS of 3.23 for the current fiscal year.

Albany International (NYSE:AIN - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also recently commented on the company. Baird R W cut Albany International from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. 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. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Albany International in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price target on Albany International from $59.00 to $63.00 and gave the company a "neutral" rating in a report on Wednesday, October 15th. Finally, Truist Financial reissued a "hold" rating and set a $55.00 target price (down previously from $70.00) on shares of Albany International in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $65.50.

Albany International Stock Performance

NYSE AIN opened at $57.97 on Monday. The company has a market cap of $1.71 billion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 1.38 and a beta of 1.36. The stock's 50 day simple moving average is $58.82 and its 200-day simple moving average is $63.90. Albany International has a 1-year low of $50.60 and a 1-year high of $88.13. 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 quarterly earnings results on Wednesday, May 25th. The textile maker reported $0.43 EPS for the quarter. Albany International had a return on equity of 8.87% and a net margin of 5.25%.The firm had revenue of $239.92 million during the quarter. As a group, equities research analysts anticipate that Albany International will post 3.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Albany International

A number of institutional investors have recently modified their holdings of AIN. American Century Companies Inc. boosted its holdings in Albany International by 37.6% in the second quarter. American Century Companies Inc. now owns 1,697,965 shares of the textile maker's stock valued at $119,079,000 after purchasing an additional 464,040 shares during the period. Nuveen LLC purchased a new position in Albany International in the first quarter valued at $18,985,000. Select Equity Group L.P. boosted its holdings in Albany International by 784.2% in the first quarter. Select Equity Group L.P. now owns 126,262 shares of the textile maker's stock valued at $8,717,000 after purchasing an additional 111,983 shares during the period. Jane Street Group LLC purchased a new position in Albany International in the first quarter valued at $7,468,000. Finally, Millennium Management LLC boosted its holdings in Albany International by 464.4% in the first quarter. Millennium Management LLC now owns 91,934 shares of the textile maker's stock valued at $6,347,000 after purchasing an additional 75,644 shares during the period. 97.37% of the stock is 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.

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