Albany International (NYSE:AIN) Price Target Lowered to $95.00 at TD Cowen

Albany International (NYSE:AIN - Get Free Report) had its price objective dropped by equities researchers at TD Cowen from $106.00 to $95.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the textile maker's stock. TD Cowen's price objective would suggest a potential upside of 16.38% from the stock's previous close.

Several other equities research analysts have also weighed in on the company. Bank of America restated an "underperform" rating and set a $95.00 price target (down from $105.00) on shares of Albany International in a research report on Thursday, March 28th. Truist Financial dropped their target price on shares of Albany International from $121.00 to $104.00 and set a "buy" rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.50.

Albany International Trading Up 2.4 %

Shares of NYSE AIN traded up $1.88 during mid-day trading on Wednesday, hitting $81.63. The stock had a trading volume of 328,915 shares, compared to its average volume of 145,732. The firm has a market cap of $2.55 billion, a P/E ratio of 23.19, a price-to-earnings-growth ratio of 2.28 and a beta of 1.25. The business has a 50 day moving average price of $91.20 and a two-hundred day moving average price of $89.71. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.85 and a current ratio of 3.53. Albany International has a 1 year low of $78.20 and a 1 year high of $99.41.

Albany International (NYSE:AIN - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The textile maker reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. Albany International had a net margin of 9.35% and a return on equity of 13.54%. The business had revenue of $313.33 million for the quarter, compared to analysts' expectations of $313.41 million. During the same quarter in the previous year, the business posted $0.91 earnings per share. The firm's revenue for the quarter was up 16.4% compared to the same quarter last year. On average, equities analysts anticipate that Albany International will post 3.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Albany International

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its position in Albany International by 13.7% during the first quarter. BNP Paribas Financial Markets now owns 25,779 shares of the textile maker's stock worth $2,411,000 after purchasing an additional 3,104 shares during the last quarter. Essex Financial Services Inc. grew its stake in shares of Albany International by 11.3% in the 1st quarter. Essex Financial Services Inc. now owns 6,098 shares of the textile maker's stock valued at $570,000 after buying an additional 620 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Albany International by 263.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 77,510 shares of the textile maker's stock worth $7,248,000 after buying an additional 56,179 shares during the last quarter. Raymond James & Associates raised its position in shares of Albany International by 4.7% during the 1st quarter. Raymond James & Associates now owns 120,109 shares of the textile maker's stock valued at $11,231,000 after buying an additional 5,400 shares during the period. Finally, Diversified Trust Co lifted its holdings in Albany International by 26.8% in the first quarter. Diversified Trust Co now owns 8,750 shares of the textile maker's stock valued at $818,000 after acquiring an additional 1,850 shares during the last quarter. 97.37% of the stock is currently owned by 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.