JPMorgan Chase & Co. Lowers Albany International (NYSE:AIN) Price Target to $96.00

Albany International (NYSE:AIN - Get Free Report) had its price objective cut by JPMorgan Chase & Co. from $98.00 to $96.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a "neutral" rating on the textile maker's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 13.41% from the stock's previous close.

AIN has been the subject of a number of other reports. TD Cowen lowered their price objective on shares of Albany International from $106.00 to $95.00 and set a "buy" rating for the company in a research note on Wednesday. Truist Financial lowered their price target on shares of Albany International from $121.00 to $104.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Bank of America reissued an "underperform" rating and issued a $95.00 price objective (down previously from $105.00) on shares of Albany International in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Albany International presently has a consensus rating of "Moderate Buy" and an average price target of $102.00.

Albany International Price Performance

NYSE:AIN traded up $0.99 during trading hours on Friday, hitting $84.65. The stock had a trading volume of 289,734 shares, compared to its average volume of 148,550. Albany International has a one year low of $78.20 and a one year high of $99.41. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 2.11 and a beta of 1.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.99 and a quick ratio of 2.85. The company has a 50 day simple moving average of $90.68 and a two-hundred day simple moving average of $89.60.

Albany International (NYSE:AIN - Get Free Report) last announced its earnings results on Tuesday, April 30th. The textile maker reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. Albany International had a net margin of 9.35% and a return on equity of 13.40%. The business had revenue of $313.33 million during the quarter, compared to the consensus estimate of $313.41 million. During the same quarter last year, the firm earned $0.91 earnings per share. The business's revenue for the quarter was up 16.4% on a year-over-year basis. Research analysts forecast that Albany International will post 3.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Robert D. Starr purchased 1,000 shares of the firm's stock in a transaction on Friday, May 3rd. The shares were bought at an average cost of $84.44 per share, for a total transaction of $84,440.00. Following the completion of the purchase, the chief financial officer now directly owns 2,610 shares of the company's stock, valued at $220,388.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Albany International

Several institutional investors have recently modified their holdings of AIN. Norges Bank acquired a new position in Albany International in the fourth quarter valued at $33,273,000. Sei Investments Co. boosted its stake in Albany International by 37.2% during the 4th quarter. Sei Investments Co. now owns 670,072 shares of the textile maker's stock worth $65,814,000 after purchasing an additional 181,814 shares during the period. Fort Washington Investment Advisors Inc. OH acquired a new position in Albany International in the fourth quarter valued at $12,803,000. Envestnet Asset Management Inc. boosted its stake in shares of Albany International by 81.2% during the third quarter. Envestnet Asset Management Inc. now owns 284,006 shares of the textile maker's stock worth $24,504,000 after buying an additional 127,295 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Albany International by 206.4% in the third quarter. Assenagon Asset Management S.A. now owns 104,601 shares of the textile maker's stock valued at $9,025,000 after buying an additional 70,459 shares in the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.

About Albany International

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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