Albany International (NYSE:AIN) Price Target Cut to $75.00 by Analysts at Bank of America

Albany International (NYSE:AIN) had its price target trimmed by Bank of America from $80.00 to $75.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an underperform rating on the textile maker’s stock.

AIN has been the subject of several other research reports. TD Cowen raised shares of Albany International to a “strong-buy” rating in a report on Thursday, December 19th. Robert W. Baird reduced their price objective on Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. Truist Financial boosted 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 lowered Albany International from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. decreased 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Albany International has an average rating of “Moderate Buy” and an average target price of $82.00.

Albany International Trading Down 1.7 %

NYSE:AIN opened at $72.15 on Tuesday. The firm has a 50-day simple moving average of $77.70 and a 200-day simple moving average of $79.30. Albany International has a one year low of $67.39 and a one year high of $95.47. The firm has a market cap of $2.23 billion, a P/E ratio of 22.55 and a beta of 1.37. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.94 and a current ratio of 3.68.

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

Albany International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 21st will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, March 21st. Albany International’s dividend payout ratio (DPR) is presently 38.71%.

Hedge Funds Weigh In On Albany International

A number of large investors have recently bought and sold shares of AIN. Cetera Investment Advisers increased its position in shares of Albany International by 3.7% in 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 in the last quarter. Integrated Investment Consultants LLC grew its stake in Albany International by 3.3% in the 4th quarter. Integrated Investment Consultants LLC now owns 4,825 shares of the textile maker’s stock valued at $386,000 after acquiring an additional 155 shares during the period. Summit Investment Advisors Inc. grew its stake in Albany International by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,265 shares of the textile maker’s stock valued at $261,000 after acquiring an additional 207 shares during the period. Gamco Investors INC. ET AL increased its holdings in Albany International by 0.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 49,080 shares of the textile maker’s stock worth $3,925,000 after acquiring an additional 265 shares in the last quarter. Finally, Central Pacific Bank Trust Division raised its position in Albany International by 16.1% during the fourth quarter. Central Pacific Bank Trust Division now owns 2,305 shares of the textile maker’s stock worth $184,000 after acquiring an additional 320 shares during the period. Institutional investors and hedge funds own 97.37% of the company’s stock.

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.