Bank of America initiated coverage on shares of Albany International (NYSE:AIN) in a research note published on Thursday morning, BenzingaRatingsTable reports. The firm issued a buy rating and a $99.00 price target on the textile maker’s stock.
A number of other equities research analysts have also recently issued reports on AIN. Alembic Global Advisors initiated coverage on shares of Albany International in a research report on Friday, June 28th. They set a neutral rating and a $90.00 target price for the company. Noble Financial reiterated a hold rating on shares of Albany International in a research report on Sunday, August 4th. Zacks Investment Research upgraded shares of Albany International from a hold rating to a strong-buy rating and set a $98.00 target price for the company in a research report on Friday, August 2nd. ValuEngine upgraded shares of Albany International from a hold rating to a buy rating in a research report on Thursday, August 1st. Finally, Cowen initiated coverage on shares of Albany International in a research report on Monday, August 19th. They set a market perform rating and a $85.00 target price for the company. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $90.33.
Shares of Albany International stock opened at $89.64 on Thursday. The stock has a market capitalization of $2.84 billion, a P/E ratio of 34.88 and a beta of 1.71. The company has a quick ratio of 2.66, a current ratio of 3.19 and a debt-to-equity ratio of 0.74. The company has a 50-day simple moving average of $82.02 and a 200 day simple moving average of $77.24. Albany International has a 12-month low of $58.06 and a 12-month high of $89.89.
Albany International (NYSE:AIN) last announced its earnings results on Tuesday, July 30th. The textile maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.24. The business had revenue of $273.95 million during the quarter, compared to analysts’ expectations of $267.75 million. Albany International had a net margin of 10.59% and a return on equity of 17.42%. On average, equities analysts anticipate that Albany International will post 3.4 earnings per share for the current year.
The business also recently disclosed a — dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 9th will be given a $0.18 dividend. This represents a yield of 0.9%. The ex-dividend date is Friday, September 6th. Albany International’s payout ratio is presently 28.02%.
A number of institutional investors and hedge funds have recently bought and sold shares of AIN. Invesco Ltd. increased its position in Albany International by 96.2% in the 2nd quarter. Invesco Ltd. now owns 823,610 shares of the textile maker’s stock valued at $68,285,000 after acquiring an additional 403,810 shares in the last quarter. Conestoga Capital Advisors LLC acquired a new stake in Albany International in the 2nd quarter valued at about $30,265,000. BlackRock Inc. increased its position in Albany International by 8.0% in the 2nd quarter. BlackRock Inc. now owns 4,584,183 shares of the textile maker’s stock valued at $380,076,000 after acquiring an additional 340,272 shares in the last quarter. Copper Rock Capital Partners LLC acquired a new stake in Albany International in the 2nd quarter valued at about $27,068,000. Finally, Nuveen Asset Management LLC acquired a new stake in Albany International in the 2nd quarter valued at about $25,927,000. Hedge funds and other institutional investors own 92.68% of the company’s stock.
About Albany International
Albany International Corp. engages in the textile and materials processing 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. This segment offers forming, pressing, and dryer fabrics, as well as process belts.
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