Bank of America Lowers Albany International (NYSE:AIN) Price Target to $65.00

Albany International (NYSE:AIN - Get Free Report) had its price objective reduced by research analysts at Bank of America from $75.00 to $65.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "underperform" rating on the textile maker's stock. Bank of America's price target points to a potential downside of 2.05% from the company's current price.

Other equities analysts also recently issued reports about the company. Wall Street Zen raised Albany International from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. upped their target price on Albany International from $65.00 to $77.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Truist Financial cut their target price on Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Robert W. Baird cut their target price on Albany International from $104.00 to $92.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $79.00.

Albany International Stock Performance

Shares of AIN stock traded up $1.53 on Monday, reaching $66.36. The stock had a trading volume of 274,972 shares, compared to its average volume of 212,619. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68. The company has a 50 day simple moving average of $65.50 and a 200 day simple moving average of $74.59. The stock has a market cap of $2.00 billion, a P/E ratio of 20.74 and a beta of 1.37. Albany International has a 1 year low of $57.71 and a 1 year high of $95.47.

Albany International (NYSE:AIN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The textile maker reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.15. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The firm had revenue of $288.77 million for the quarter, compared to analysts' expectations of $300.74 million. During the same period in the previous year, the firm posted $0.90 earnings per share. The business's revenue was down 7.8% compared to the same quarter last year. Equities research analysts expect that Albany International will post 3.23 EPS for the current year.

Institutional Investors Weigh In On Albany International

Several hedge funds have recently modified their holdings of the company. Brooklyn Investment Group lifted its stake in Albany International by 2,241.2% in the 1st quarter. Brooklyn Investment Group now owns 398 shares of the textile maker's stock worth $27,000 after purchasing an additional 381 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Albany International in the 4th quarter valued at approximately $40,000. Smartleaf Asset Management LLC increased its holdings in Albany International by 306.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock valued at $53,000 after purchasing an additional 503 shares during the last quarter. Sterling Capital Management LLC increased its holdings in Albany International by 735.6% in the 4th quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker's stock valued at $60,000 after purchasing an additional 662 shares during the last quarter. Finally, Vestcor Inc acquired a new stake in Albany International in the 4th quarter valued at approximately $70,000. 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.