Cowen reiterated their hold rating on shares of Albany International (NYSE:AIN) in a report published on Wednesday, AnalystRatings.com reports. They currently have a $57.00 price target on the textile maker’s stock.
A number of other analysts also recently weighed in on the stock. Bank of America initiated coverage on shares of Albany International in a report on Wednesday, April 15th. They issued a buy rating and a $65.00 target price on the stock. Sidoti cut shares of Albany International from a buy rating to a neutral rating and set a $64.00 price target for the company. in a research note on Thursday, June 4th. Zacks Investment Research raised shares of Albany International from a sell rating to a hold rating in a research note on Monday, July 20th. Finally, Alembic Global Advisors raised shares of Albany International to a buy rating and set a $91.00 price target for the company in a research note on Tuesday, June 9th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $70.29.
Albany International stock opened at $48.08 on Wednesday. The company’s 50-day moving average price is $54.81 and its 200-day moving average price is $58.10. Albany International has a twelve month low of $30.46 and a twelve month high of $92.04. The company has a quick ratio of 3.13, a current ratio of 3.67 and a debt-to-equity ratio of 0.62. The company has a market cap of $1.55 billion, a PE ratio of 14.06 and a beta of 1.55.
Albany International (NYSE:AIN) last posted its earnings results on Wednesday, July 29th. The textile maker reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.38. Albany International had a net margin of 11.17% and a return on equity of 18.98%. The firm had revenue of $225.99 million for the quarter, compared to the consensus estimate of $221.28 million. As a group, sell-side analysts expect that Albany International will post 2.85 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 5th were given a $0.19 dividend. The ex-dividend date was Thursday, June 4th. This represents a $0.76 annualized dividend and a yield of 1.58%. Albany International’s dividend payout ratio (DPR) is 18.49%.
Institutional investors have recently added to or reduced their stakes in the business. First Mercantile Trust Co. boosted its position in Albany International by 36.8% in the 1st quarter. First Mercantile Trust Co. now owns 855 shares of the textile maker’s stock valued at $40,000 after buying an additional 230 shares during the period. First Bank & Trust boosted its position in Albany International by 136.3% in the 1st quarter. First Bank & Trust now owns 1,479 shares of the textile maker’s stock valued at $70,000 after buying an additional 853 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Albany International by 17.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,307 shares of the textile maker’s stock valued at $109,000 after buying an additional 351 shares during the period. Mutual of America Capital Management LLC boosted its position in Albany International by 12.4% in the 1st quarter. Mutual of America Capital Management LLC now owns 2,518 shares of the textile maker’s stock valued at $119,000 after buying an additional 278 shares during the period. Finally, Simplex Trading LLC purchased a new stake in Albany International in the 1st quarter valued at about $165,000. 92.77% 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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