Several other brokerages have also recently weighed in on AIN. Alembic Global Advisors started coverage on Albany International in a report on Friday, June 28th. They set a neutral rating and a $90.00 price objective for the company. Cowen started coverage on Albany International in a report on Monday, August 19th. They set a market perform rating and a $85.00 price objective for the company. Zacks Investment Research cut Albany International from a buy rating to a hold rating in a report on Friday, October 18th. Bank of America started coverage on Albany International in a report on Thursday, September 12th. They set a buy rating and a $99.00 price objective for the company. Finally, Robert W. Baird cut Albany International from an outperform rating to a neutral rating and dropped their price objective for the stock from $93.00 to $80.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Albany International has a consensus rating of Hold and a consensus price target of $88.33.
Shares of NYSE AIN opened at $80.24 on Tuesday. The firm’s 50-day simple moving average is $86.48 and its 200 day simple moving average is $79.88. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 25.79, a price-to-earnings-growth ratio of 2.40 and a beta of 1.70. The company has a quick ratio of 2.66, a current ratio of 3.19 and a debt-to-equity ratio of 0.74. Albany International has a 12-month low of $58.06 and a 12-month high of $92.04.
Albany International (NYSE:AIN) last issued its quarterly earnings results on Tuesday, July 30th. The textile maker reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.24. The business had revenue of $273.95 million for the quarter, compared to the consensus estimate 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 expect that Albany International will post 3.4 earnings per share for the current year.
The business also recently declared a — dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 9th were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a dividend yield of 0.9%. Albany International’s dividend payout ratio (DPR) is presently 28.02%.
Several hedge funds have recently made changes to their positions in AIN. Pearl River Capital LLC bought a new stake in Albany International during the 2nd quarter worth approximately $29,000. Huntington National Bank acquired a new stake in shares of Albany International in the 2nd quarter valued at approximately $34,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Albany International in the 2nd quarter valued at approximately $39,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Albany International by 82.3% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 720 shares of the textile maker’s stock valued at $60,000 after buying an additional 325 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of Albany International in the 2nd quarter valued at approximately $82,000. 92.33% of the stock is owned by institutional investors.
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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