Albany International (NYSE:AIN) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. has increased Albany International's target price from $59.00 to $63.00, indicating a potential upside of 12.66% from its previous close.
• Several other analysts have adjusted their ratings, with Baird R W downgrading the stock from "strong-buy" to "hold", while Truist Financial set a lower target price of $55.00.
• Albany International's shares opened at $55.92, with an average analyst rating of "Hold" and an estimated EPS of 3.23 for the current fiscal year.

Albany International (NYSE:AIN - Get Free Report) had its target price boosted by stock analysts at JPMorgan Chase & Co. from $59.00 to $63.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the textile maker's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 12.66% from the company's previous close.

A number of other research analysts have also weighed in on the stock. Baird R W lowered shares of Albany International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Weiss Ratings reissued a "hold (c-)" rating on shares of Albany International in a research note on Wednesday, October 8th. 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 research note on Thursday, July 31st. Finally, Truist Financial reissued a "hold" rating and issued a $55.00 target price (down from $70.00) on shares of Albany International in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $65.50.

Albany International Trading Up 0.1%

Shares of Albany International stock opened at $55.92 on Wednesday. The firm has a market capitalization of $1.65 billion, a PE ratio of 27.96, a P/E/G ratio of 1.33 and a beta of 1.36. Albany International has a twelve month low of $50.60 and a twelve month high of $88.13. The firm's 50-day moving average price is $59.27 and its 200 day moving average price is $64.26. The company has a current ratio of 3.51, a quick ratio of 2.78 and a debt-to-equity ratio of 0.50.

Albany International (NYSE:AIN - Get Free Report) last released its earnings results on Wednesday, May 25th. The textile maker reported $0.43 earnings per share for the quarter. Albany International had a net margin of 5.25% and a return on equity of 8.87%. The business had revenue of $239.92 million for the quarter. On average, sell-side analysts predict that Albany International will post 3.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Albany International

Institutional investors have recently modified their holdings of the business. Brooklyn Investment Group grew its stake in shares of Albany International by 2,241.2% in the first quarter. Brooklyn Investment Group now owns 398 shares of the textile maker's stock worth $27,000 after acquiring an additional 381 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Albany International by 227.3% in the second quarter. EverSource Wealth Advisors LLC now owns 540 shares of the textile maker's stock valued at $38,000 after acquiring an additional 375 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Albany International by 32.4% in the second quarter. Smartleaf Asset Management LLC now owns 711 shares of the textile maker's stock valued at $49,000 after acquiring an additional 174 shares in the last quarter. Osaic Holdings Inc. boosted its stake in Albany International by 42.3% in the second quarter. Osaic Holdings Inc. now owns 908 shares of the textile maker's stock valued at $64,000 after acquiring an additional 270 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Albany International during the second quarter worth about $77,000. Institutional investors and hedge funds 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.

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