Truist Financial Lowers Albany International (NYSE:AIN) Price Target to $80.00

Albany International (NYSE:AIN - Get Free Report) had its price target lowered by equities research analysts at Truist Financial from $88.00 to $80.00 in a report released on Thursday,Benzinga reports. The firm presently has a "buy" rating on the textile maker's stock. Truist Financial's price target indicates a potential upside of 29.18% from the company's current price.

Other equities analysts have also issued research reports about the stock. StockNews.com lowered shares of Albany International from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. JPMorgan Chase & Co. reduced their target price on Albany International from $75.00 to $74.00 and set a "neutral" rating on the stock in a report on Wednesday, January 15th. Robert W. Baird cut their price target on Albany International from $104.00 to $92.00 and set an "outperform" rating for the company in a report on Friday, February 28th. TD Cowen upgraded Albany International to a "strong-buy" rating in a research report on Thursday, December 19th. Finally, Bank of America reduced their price target on shares of Albany International from $80.00 to $75.00 and set an "underperform" rating on the stock in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.40.

Albany International Stock Performance

Shares of AIN stock traded down $0.79 during trading hours on Thursday, reaching $61.93. 158,208 shares of the company traded hands, compared to its average volume of 202,321. The company has a market cap of $1.91 billion, a P/E ratio of 19.34 and a beta of 1.29. Albany International has a 12-month low of $57.71 and a 12-month high of $95.47. The firm has a 50-day moving average price of $71.63 and a 200 day moving average price of $76.50. 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 (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 the consensus estimate of $0.63 by ($0.05). Albany International had a return on equity of 12.20% and a net margin of 7.92%. The firm had revenue of $286.91 million during the quarter, compared to the consensus estimate of $299.52 million. As a group, sell-side analysts predict that Albany International will post 3.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AIN. Public Employees Retirement System of Ohio bought a new position in Albany International in the 4th quarter worth about $40,000. Smartleaf Asset Management LLC raised its position in Albany International by 306.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock valued at $53,000 after purchasing an additional 503 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Albany International by 735.6% in the 4th quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker's stock worth $60,000 after buying an additional 662 shares during the period. Vestcor Inc bought a new position in shares of Albany International during the 4th quarter worth $70,000. Finally, Covestor Ltd increased its stake in shares of Albany International by 110.4% during the fourth quarter. Covestor Ltd now owns 888 shares of the textile maker's stock valued at $71,000 after buying an additional 466 shares during the period. 97.37% of the stock is currently owned by 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.