Albany International (NYSE:AIN) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Albany International from “strong buy” to “buy.” Across analysts, the stock has an average “hold” rating and a consensus price target of $69.
• Albany International beat quarterly expectations, reporting EPS of $1.68 versus $1.48 expected and revenue of $349.54 million versus $326.12 million; revenue rose 33.7% year over year.

Albany International (NYSE:AIN - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report issued on Sunday, Wall Street Zen reports.

A number of other equities analysts also recently issued reports on the company. Robert W. Baird increased their price target on Albany International from $64.00 to $75.00 and gave the stock a "neutral" rating in a research report on Thursday, September 3rd. JPMorgan Chase & Co. boosted their price objective on Albany International from $67.00 to $71.00 and gave the company a "neutral" rating in a research report on Friday, October 30th. Weiss Ratings raised Albany International from a "sell (d+)" rating to a "hold (c)" rating in a research note on Tuesday. Finally, Zacks Research raised Albany International from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Albany International presently has an average rating of "Hold" and an average target price of $69.00.

Albany International Trading Down 0.1%

Shares of Albany International stock opened at $66.94 on Friday. The firm has a 50-day simple moving average of $61.78 and a two-hundred day simple moving average of $62.09. The company has a market cap of $1.90 billion, a P/E ratio of 21.67, a price-to-earnings-growth ratio of 1.60 and a beta of 1.15. Albany International has a fifty-two week low of $41.15 and a fifty-two week high of $77.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.89 and a current ratio of 2.41.

Albany International (NYSE:AIN - Get Free Report) last posted its earnings results on Wednesday, October 28th. The textile maker reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.20. Albany International had a net margin of 6.73% and a return on equity of 14.25%. The business had revenue of $349.54 million for the quarter, compared to analyst estimates of $326.12 million. During the same period in the prior year, the company posted $0.71 EPS. The company's revenue for the quarter was up 33.7% on a year-over-year basis. As a group, equities analysts predict that Albany International will post 3.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its stake in Albany International by 57.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 214,525 shares of the textile maker's stock worth $12,788,000 after buying an additional 78,307 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Albany International by 18.8% during the third quarter. Fifth Third Bancorp now owns 17,931 shares of the textile maker's stock valued at $1,069,000 after acquiring an additional 2,834 shares during the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of Albany International by 53.6% during the third quarter. Maryland State Retirement & Pension System now owns 6,351 shares of the textile maker's stock valued at $379,000 after acquiring an additional 2,217 shares during the last quarter. CenterBook Partners LP lifted its position in shares of Albany International by 118.4% in the third quarter. CenterBook Partners LP now owns 11,322 shares of the textile maker's stock valued at $675,000 after acquiring an additional 6,137 shares in the last quarter. Finally, Heritage Family Offices LLP purchased a new position in shares of Albany International in the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 97.37% of the company's stock.

About Albany International

Albany International Corporation is an advanced materials and engineered products company serving the paper, aerospace and defense industries. Founded in 1895, the company develops and manufactures specialized textiles, composite materials and related process technologies for industrial applications.

Albany International operates through two primary businesses. Its Machine Clothing segment produces engineered fabrics and process belts used in paper manufacturing, including forming fabrics, press felts, dryer fabrics and other products that support papermaking efficiency and quality.

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