Posted by admin on May 18th, 2022

Albany International (NYSE:AIN – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Albany International Corp. is a global advanced textiles and materials processing company. Albany International has two core businesses, The Machine Clothing segment is the world’s leading producer of custom-designed fabrics and belts essential to production in the paper, nonwovens, and other process industries. Albany Engineered Composites (AEC) is a rapidly growing supplier of highly engineered composite parts for the aerospace industry. Albany International products and technologies help make paper smoother, tissue softer, and aircraft engines and structures lighter. “

Other equities analysts have also recently issued research reports about the company. Bank of America reissued a “neutral” rating and set a $90.00 target price (down previously from $105.00) on shares of Albany International in a report on Tuesday, February 22nd. StockNews.com assumed coverage on Albany International in a report on Thursday, March 31st. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $95.33.

Shares of Albany International stock traded down $0.57 during mid-day trading on Wednesday, reaching $84.07. 10,369 shares of the stock traded hands, compared to its average volume of 197,737. The business has a 50-day moving average of $82.86 and a 200 day moving average of $85.04. Albany International has a fifty-two week low of $74.17 and a fifty-two week high of $93.43. The stock has a market capitalization of $2.65 billion, a PE ratio of 22.86, a PEG ratio of 4.73 and a beta of 1.30. The company has a quick ratio of 3.73, a current ratio of 4.43 and a debt-to-equity ratio of 0.49.

Albany International (NYSE:AIN – Get Rating) last announced its earnings results on Monday, April 25th. The textile maker reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.14. Albany International had a return on equity of 13.36% and a net margin of 12.47%. During the same quarter in the previous year, the company earned $0.87 earnings per share. On average, equities research analysts expect that Albany International will post 3.15 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its position in Albany International by 1.7% in the fourth quarter. Victory Capital Management Inc. now owns 7,663 shares of the textile maker’s stock worth $678,000 after acquiring an additional 128 shares during the period. Oppenheimer Asset Management Inc. grew its position in Albany International by 0.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 34,902 shares of the textile maker’s stock worth $2,683,000 after acquiring an additional 153 shares during the period. Maryland State Retirement & Pension System grew its position in Albany International by 1.3% in the fourth quarter. Maryland State Retirement & Pension System now owns 12,909 shares of the textile maker’s stock worth $1,142,000 after acquiring an additional 168 shares during the period. Voya Financial Advisors Inc. grew its position in Albany International by 5.8% in the third quarter. Voya Financial Advisors Inc. now owns 3,213 shares of the textile maker’s stock worth $253,000 after acquiring an additional 176 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in Albany International by 0.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 26,351 shares of the textile maker’s stock worth $2,331,000 after acquiring an additional 178 shares during the period. 99.64% of the stock is owned by hedge funds and other institutional investors.

About Albany International (Get Rating)

Albany International Corp., together with its subsidiaries, engages in the textile and materials processing business. 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, and towels.

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