Albany International's (AIN) "Hold (C-)" Rating Reiterated at Weiss Ratings

Key Points

• Albany International's stock received a "hold (C-)" rating from Weiss Ratings, reflecting a cautious outlook as other analysts downgraded their ratings recently.
• The company reported $0.57 earnings per share for the last quarter, missing estimates by $0.16, along with a revenue decrease of 6.2% year-over-year.
• Institutional investors are actively adjusting their stakes in Albany International, with significant increases reported from various firms in recent quarters.

Albany International (NYSE:AIN - Get Free Report)'s stock had its "hold (c-)" rating restated by research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Other analysts have also recently issued reports about 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 target price for the company. in a report on Thursday, July 31st. Finally, Truist Financial restated a "hold" rating and issued a $55.00 target price (down from $70.00) on shares of Albany International in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $69.00.

Albany International Trading Up 1.5%

NYSE:AIN traded up $0.83 during trading hours on Wednesday, hitting $56.45. The company had a trading volume of 38,021 shares, compared to its average volume of 267,747. The company has a current ratio of 3.51, a quick ratio of 2.78 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average of $59.73 and a 200 day moving average of $64.84. The company has a market cap of $1.67 billion, a P/E ratio of 28.22, a P/E/G ratio of 1.34 and a beta of 1.36. Albany International has a 1 year low of $50.60 and a 1 year high of $88.13.

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 the consensus estimate 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%. The firm's quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.89 earnings per share. Albany International has set its FY 2025 guidance at 3.000-3.400 EPS. Sell-side analysts expect that Albany International will post 3.23 earnings per share for the current year.

Institutional Investors Weigh In On Albany International

Several large investors have recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division increased its stake in Albany International by 43.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 4,126 shares of the textile maker's stock worth $220,000 after buying an additional 1,246 shares during the period. Osaic Holdings Inc. increased its stake in Albany International by 42.3% during the 2nd quarter. Osaic Holdings Inc. now owns 908 shares of the textile maker's stock worth $64,000 after buying an additional 270 shares during the period. Public Sector Pension Investment Board increased its stake in Albany International by 3.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 102,933 shares of the textile maker's stock worth $7,219,000 after buying an additional 3,626 shares during the period. Tower Research Capital LLC TRC increased its stake in Albany International by 369.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,795 shares of the textile maker's stock worth $266,000 after buying an additional 2,986 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in Albany International by 32.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 711 shares of the textile maker's stock worth $49,000 after acquiring an additional 174 shares in the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.

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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