Albany International (NYSE:AIN) Price Target Lowered to $92.00 at Robert W. Baird

Albany International (NYSE:AIN) had its price target lowered by Robert W. Baird from $104.00 to $92.00 in a report issued on Friday,Benzinga reports. Robert W. Baird currently has an outperform rating on the textile maker’s stock.

AIN has been the subject of several other reports. Truist Financial increased their price objective on Albany International from $85.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Bank of America cut their price target on Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a report on Friday, November 15th. JPMorgan Chase & Co. cut their price target on Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Finally, TD Cowen raised Albany International to a “strong-buy” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Albany International Price Performance

Shares of NYSE AIN opened at $76.58 on Friday. The stock has a fifty day simple moving average of $80.53 and a two-hundred day simple moving average of $81.58. Albany International has a 1-year low of $67.39 and a 1-year high of $97.60. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 23.93 and a beta of 1.34. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36.

Albany International (NYSE:AIN) last announced its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.05). Albany International had a net margin of 7.92% and a return on equity of 12.20%. The firm had revenue of $286.91 million for the quarter, compared to the consensus estimate of $299.52 million. Analysts anticipate that Albany International will post 3.23 earnings per share for the current year.

Albany International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 21st will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.41%. The ex-dividend date is Friday, March 21st. Albany International’s dividend payout ratio is 33.75%.

Institutional Investors Weigh In On Albany International

Several large investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers boosted its stake in Albany International by 3.7% during the fourth quarter. Cetera Investment Advisers now owns 3,730 shares of the textile maker’s stock valued at $298,000 after buying an additional 133 shares during the period. Integrated Investment Consultants LLC boosted its stake in Albany International by 3.3% during the fourth quarter. Integrated Investment Consultants LLC now owns 4,825 shares of the textile maker’s stock valued at $386,000 after buying an additional 155 shares during the period. Summit Investment Advisors Inc. boosted its stake in Albany International by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,265 shares of the textile maker’s stock valued at $261,000 after buying an additional 207 shares during the period. KBC Group NV boosted its stake in Albany International by 28.9% during the third quarter. KBC Group NV now owns 1,058 shares of the textile maker’s stock valued at $94,000 after buying an additional 237 shares during the period. Finally, Gamco Investors INC. ET AL boosted its stake in Albany International by 0.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 49,080 shares of the textile maker’s stock valued at $3,925,000 after buying an additional 265 shares during the period. Institutional investors own 97.37% of the company’s stock.

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.