Albany International (NYSE:AIN) Given New $75.00 Price Target at Bank of America

Albany International (NYSE:AIN - Free Report) had its target price lowered by Bank of America from $80.00 to $75.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an underperform rating on the textile maker's stock.

Other research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Albany International from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Robert W. Baird cut their target price on shares of Albany International from $104.00 to $92.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. Truist Financial upped their price target on shares of Albany International from $85.00 to $88.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. TD Cowen raised Albany International to a "strong-buy" rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Albany International from $75.00 to $74.00 and set a "neutral" rating on the stock 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 assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $82.00.

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Albany International Price Performance

Shares of Albany International stock traded down $2.59 on Tuesday, reaching $69.39. 249,246 shares of the stock were exchanged, compared to its average volume of 196,855. The firm's 50 day moving average is $77.46 and its 200-day moving average is $79.15. The firm has a market cap of $2.14 billion, a PE ratio of 21.68 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 has a one year low of $67.39 and a one year high of $95.47.

Albany International (NYSE:AIN - Get Free Report) last issued its earnings results on Wednesday, February 26th. The textile maker reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $0.63 by ($0.05). Albany International had a net margin of 7.92% and a return on equity of 12.20%. The business had revenue of $286.91 million during the quarter, compared to analyst estimates of $299.52 million. As a group, analysts anticipate that Albany International will post 3.23 EPS for the current fiscal year.

Albany International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 21st will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.08 annualized dividend and a yield of 1.56%. Albany International's payout ratio is 38.71%.

Institutional Trading of Albany International

Several institutional investors and hedge funds have recently modified their holdings of AIN. Public Employees Retirement System of Ohio purchased a new position in shares of Albany International in the 4th quarter worth approximately $40,000. Quarry LP increased its position in Albany International by 515.4% in the third quarter. Quarry LP now owns 480 shares of the textile maker's stock worth $43,000 after buying an additional 402 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Albany International by 306.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock valued at $53,000 after buying an additional 503 shares during the period. Sterling Capital Management LLC lifted its position in shares of Albany International by 735.6% during the 4th quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker's stock valued at $60,000 after buying an additional 662 shares during the last quarter. Finally, Vestcor Inc bought a new position in shares of Albany International during the 4th quarter worth $70,000. 97.37% of the stock is owned by hedge funds and other institutional investors.

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.