Albany International Corp. (AIN) Receives Average Recommendation of “Hold” from Brokerages
Shares of Albany International Corp. (NYSE:AIN) have been given an average broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold recommendation.
Brokers have set a 12-month consensus target price of $72.00 for the company and are predicting that the company will post $0.65 EPS for the current quarter, according to Zacks. Zacks has also given Albany International an industry rank of 245 out of 255 based on the ratings given to related companies.
Several equities analysts recently issued reports on the company. ValuEngine cut Albany International from a “buy” rating to a “hold” rating in a report on Monday, August 13th. Zacks Investment Research upgraded Albany International from a “sell” rating to a “hold” rating in a report on Monday, August 6th. Stephens reiterated a “hold” rating on shares of Albany International in a report on Thursday, August 16th. Finally, Noble Financial reiterated a “hold” rating on shares of Albany International in a report on Wednesday, August 8th.
A number of large investors have recently added to or reduced their stakes in AIN. BlackRock Inc. lifted its stake in Albany International by 8.5% in the second quarter. BlackRock Inc. now owns 3,986,614 shares of the textile maker’s stock valued at $239,795,000 after buying an additional 311,334 shares during the period. Westwood Holdings Group Inc. lifted its stake in Albany International by 20.8% in the first quarter. Westwood Holdings Group Inc. now owns 939,145 shares of the textile maker’s stock valued at $58,885,000 after buying an additional 161,424 shares during the period. Sei Investments Co. acquired a new position in Albany International in the second quarter valued at about $6,695,000. WINTON GROUP Ltd acquired a new position in Albany International in the first quarter valued at about $6,869,000. Finally, Carillon Tower Advisers Inc. acquired a new position in Albany International in the first quarter valued at about $3,973,000. 87.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AIN stock traded up $0.35 during trading hours on Friday, hitting $79.90. 593 shares of the company’s stock were exchanged, compared to its average volume of 192,260. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.49 and a current ratio of 2.99. The stock has a market capitalization of $2.51 billion, a PE ratio of 49.49 and a beta of 1.71. Albany International has a 52 week low of $55.65 and a 52 week high of $82.20.
Albany International (NYSE:AIN) last announced its earnings results on Monday, August 6th. The textile maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.54 by $0.28. The company had revenue of $256.23 million for the quarter, compared to analysts’ expectations of $233.50 million. Albany International had a return on equity of 13.03% and a net margin of 6.38%. During the same quarter in the prior year, the business earned $0.48 earnings per share. analysts forecast that Albany International will post 2.53 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 5th. Investors of record on Monday, September 10th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Friday, September 7th. Albany International’s dividend payout ratio is 42.24%.
Albany International Company Profile
Albany International Corp. engages in textiles and materials processing. It operates through the Machine Clothing and Albany Engineered Composites segments. The Machine Clothing segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, tissue and towel, pulp, nonwovens, fiber cement, and several other industrial applications.
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