Albany International Corporation (NYSE:AIN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Albany International Corporation (NYSE:AIN) has received a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $79.00.

Several analysts have recently issued reports on AIN shares. JPMorgan Chase & Co. upped their price target on Albany International from $65.00 to $77.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Wall Street Zen raised shares of Albany International from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Truist Financial reduced their price objective on shares of Albany International from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Finally, Bank of America lowered their target price on shares of Albany International from $75.00 to $65.00 and set an “underperform” rating on the stock in a research note on Monday, June 2nd.

Albany International Price Performance

NYSE AIN opened at $72.17 on Monday. The company has a quick ratio of 2.92, a current ratio of 3.70 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $2.18 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31. Albany International has a 12-month low of $57.71 and a 12-month high of $95.47. The company has a 50 day moving average price of $68.76 and a two-hundred day moving average price of $71.34.

Albany International (NYSE:AIN) last released its quarterly earnings data on Wednesday, April 30th. The textile maker reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.15. The business had revenue of $288.77 million during the quarter, compared to analyst estimates of $300.74 million. Albany International had a net margin of 6.44% and a return on equity of 9.79%. Albany International’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 EPS. As a group, equities analysts predict that Albany International will post 3.23 earnings per share for the current fiscal year.

Albany International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Friday, June 6th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Friday, June 6th. Albany International’s dividend payout ratio is currently 43.55%.

Institutional Investors Weigh In On Albany International

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Albany International by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 3,493,846 shares of the textile maker’s stock worth $279,403,000 after buying an additional 12,687 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of Albany International by 3.9% during the 4th quarter. Earnest Partners LLC now owns 2,641,108 shares of the textile maker’s stock worth $211,209,000 after purchasing an additional 99,149 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Albany International by 3,050.6% during the 4th quarter. Bank of America Corp DE now owns 1,363,946 shares of the textile maker’s stock worth $109,075,000 after purchasing an additional 1,320,654 shares in the last quarter. American Century Companies Inc. increased its position in shares of Albany International by 45.3% during the first quarter. American Century Companies Inc. now owns 1,233,925 shares of the textile maker’s stock valued at $85,190,000 after purchasing an additional 384,546 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Albany International by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,103,121 shares of the textile maker’s stock valued at $88,217,000 after purchasing an additional 9,226 shares in the last quarter. 97.37% of the stock is owned by 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.