Albany International (NYSE:AIN) Stock Gets Price Target Bump from Truist Financial

Key Points

• Truist Financial raised Albany International’s price target from $61 to $71 but maintained a “hold” rating; the new target implies 4.72% upside from the prior close.
• Albany International reported quarterly EPS of $1.68, beating the $1.48 consensus, while revenue of $349.54 million exceeded estimates and rose 33.7% year over year.
• Analysts’ consensus rating is “hold,” with an average price target of $72.33.

Albany International (NYSE:AIN - Get Free Report) had its price objective lifted by stock analysts at Truist Financial from $61.00 to $71.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a "hold" rating on the textile maker's stock. Truist Financial's price objective indicates a potential upside of 4.72% from the stock's previous close.

AIN has been the topic of a number of other reports. Zacks Research raised shares of Albany International from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 28th. Weiss Ratings raised Albany International from a "sell (d+)" rating to a "hold (c)" rating in a research note on Tuesday, November 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 report on Friday, October 30th. Wall Street Zen downgraded Albany International from a "strong-buy" rating to a "buy" rating in a report on Sunday, November 8th. Finally, Robert W. Baird increased their target price on Albany International from $64.00 to $75.00 and gave the stock a "neutral" rating in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $72.33.

Albany International Trading Down 1.0%

AIN opened at $67.80 on Friday. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15. The company's 50 day simple moving average is $62.74 and its two-hundred day simple moving average is $62.31. Albany International has a 1-year low of $41.15 and a 1-year high of $77.00. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.41 and a quick ratio of 1.89.

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

Institutional Investors Weigh In On Albany International

A number of hedge funds have recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL grew its stake in shares of Albany International by 199.8% in the first quarter. Gamco Investors INC. ET AL now owns 644,605 shares of the textile maker's stock worth $33,655,000 after acquiring an additional 429,561 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Albany International by 19.1% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,003,314 shares of the textile maker's stock valued at $59,808,000 after acquiring an additional 160,880 shares in the last quarter. Bank of America Corp DE boosted its holdings in Albany International by 18.2% in the first quarter. Bank of America Corp DE now owns 1,043,579 shares of the textile maker's stock valued at $54,485,000 after purchasing an additional 160,370 shares during the period. Gabelli Funds LLC boosted its holdings in Albany International by 88.5% in the first quarter. Gabelli Funds LLC now owns 281,703 shares of the textile maker's stock valued at $14,708,000 after purchasing an additional 132,226 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Albany International in the first quarter valued at $5,007,000. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Albany International Company Profile

Albany International Corporation is a materials science and manufacturing company founded in 1895 as Albany Felt Company. It operates through two businesses: Machine Clothing and Albany Engineered Composites. Machine Clothing makes permeable fabrics and belts used in paper production, as well as products for paperboard, tissue and other industrial applications. Albany Engineered Composites designs and manufactures advanced composite structures and components, primarily for the aerospace and defense industries.

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