Albany International (NYSE:AIN) Rating Lowered to Hold at StockNews.com

Albany International (NYSE:AIN - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a report released on Tuesday.

Other equities analysts have also recently issued reports about the company. Bank of America dropped their price objective on Albany International from $90.00 to $80.00 and set an "underperform" rating for the company in a report on Friday, November 15th. TD Cowen upgraded shares of Albany International to a "strong-buy" rating in a research note on Thursday, December 19th. Finally, Truist Financial boosted their target price on shares of Albany International from $85.00 to $88.00 and gave the company a "buy" rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Albany International currently has a consensus rating of "Hold" and a consensus target price of $86.25.

Albany International Trading Up 1.5 %

Shares of Albany International stock traded up $1.16 during trading on Tuesday, hitting $80.94. 174,826 shares of the company were exchanged, compared to its average volume of 213,403. The firm has a market capitalization of $2.53 billion, a P/E ratio of 25.29 and a beta of 1.35. The firm's fifty day moving average price is $81.41 and its 200 day moving average price is $83.10. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. Albany International has a 1-year low of $67.39 and a 1-year high of $98.73.

Albany International (NYSE:AIN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.35. Albany International had a net margin of 7.92% and a return on equity of 12.20%. The business had revenue of $298.40 million for the quarter, compared to analyst estimates of $304.51 million. During the same quarter in the previous year, the firm posted $1.02 earnings per share. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. As a group, sell-side analysts expect that Albany International will post 3.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Albany International

In other news, CEO Gunnar Kleveland purchased 1,400 shares of the business's stock in a transaction on Tuesday, November 5th. The stock was purchased at an average cost of $71.25 per share, with a total value of $99,750.00. Following the acquisition, the chief executive officer now directly owns 8,284 shares in the company, valued at approximately $590,235. This trade represents a 20.34 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joseph M. Gaug purchased 1,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was acquired at an average cost of $71.24 per share, for a total transaction of $71,240.00. Following the acquisition, the vice president now owns 6,811 shares in the company, valued at approximately $485,215.64. This represents a 17.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 3,450 shares of company stock worth $245,813. Insiders own 0.76% of the company's stock.

Hedge Funds Weigh In On Albany International

Several institutional investors and hedge funds have recently added to or reduced their stakes in AIN. Earnest Partners LLC boosted its holdings in Albany International by 2.1% in the second quarter. Earnest Partners LLC now owns 2,592,787 shares of the textile maker's stock worth $218,961,000 after purchasing an additional 53,743 shares during the last quarter. State Street Corp raised its position in shares of Albany International by 3.1% during the 3rd quarter. State Street Corp now owns 1,218,058 shares of the textile maker's stock valued at $108,544,000 after purchasing an additional 36,944 shares during the period. Dimensional Fund Advisors LP raised its holdings in Albany International by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,091,660 shares of the textile maker's stock valued at $92,192,000 after acquiring an additional 52,909 shares during the period. Victory Capital Management Inc. lifted its position in shares of Albany International by 24.0% in the third quarter. Victory Capital Management Inc. now owns 847,829 shares of the textile maker's stock valued at $75,330,000 after acquiring an additional 163,934 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Albany International by 1.2% in the third quarter. Geode Capital Management LLC now owns 715,779 shares of the textile maker's stock worth $63,609,000 after acquiring an additional 8,356 shares during the period. Hedge funds and other institutional investors 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.

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