Albany International (NYSE:AIN) Price Target Lowered to $85.00 at Truist Financial

Albany International (NYSE:AIN - Get Free Report) had its price target dropped by analysts at Truist Financial from $91.00 to $85.00 in a report released on Friday, Benzinga reports. The firm currently has a "buy" rating on the textile maker's stock. Truist Financial's target price would suggest a potential upside of 22.25% from the company's current price.

A number of other research analysts have also recently commented on AIN. StockNews.com raised shares of Albany International from a "hold" rating to a "buy" rating in a research report on Thursday, August 15th. TD Cowen cut their price objective on shares of Albany International from $95.00 to $81.00 and set a "buy" rating on the stock in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Albany International presently has an average rating of "Hold" and an average price target of $88.00.

Albany International Stock Up 2.4 %

Albany International stock traded up $1.61 during trading on Friday, reaching $69.53. 300,762 shares of the company's stock were exchanged, compared to its average volume of 155,657. Albany International has a 52-week low of $67.39 and a 52-week high of $99.41. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 2.36 and a beta of 1.25. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.87 and a current ratio of 3.59. The company's 50-day moving average is $81.73 and its two-hundred day moving average is $85.36.

Albany International (NYSE:AIN - Get Free Report) last issued its earnings results on Wednesday, October 30th. The textile maker reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.35. The company had revenue of $298.40 million during the quarter, compared to the consensus estimate of $304.51 million. Albany International had a return on equity of 12.28% and a net margin of 7.92%. The company's revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.02 earnings per share. On average, analysts predict that Albany International will post 3.12 earnings per share for the current year.

Hedge Funds Weigh In On Albany International

Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in Albany International by 6.6% in the third quarter. Principal Financial Group Inc. now owns 586,268 shares of the textile maker's stock worth $52,071,000 after purchasing an additional 36,274 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of Albany International by 16.4% in the 3rd quarter. QRG Capital Management Inc. now owns 4,025 shares of the textile maker's stock valued at $358,000 after buying an additional 567 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Albany International by 60.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 161,340 shares of the textile maker's stock valued at $14,335,000 after buying an additional 60,812 shares during the last quarter. Blue Trust Inc. raised its stake in Albany International by 20.2% during the third quarter. Blue Trust Inc. now owns 3,245 shares of the textile maker's stock worth $274,000 after acquiring an additional 545 shares during the period. Finally, Creative Planning lifted its holdings in Albany International by 18.4% in the third quarter. Creative Planning now owns 5,941 shares of the textile maker's stock worth $528,000 after acquiring an additional 923 shares during the last quarter. 97.37% of the stock is currently owned by institutional investors and hedge funds.

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.