Truist Financial Issues Pessimistic Forecast for Albany International (NYSE:AIN) Stock Price

Albany International (NYSE:AIN) had its target price reduced by equities research analysts at Truist Financial from $55.00 to $50.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “hold” rating on the textile maker’s stock. Truist Financial’s price target would indicate a potential upside of 4.36% from the company’s current price.

Other analysts have also issued reports about the stock. Robert W. Baird lowered shares of Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 price target for the company. in a research note on Thursday, July 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Albany International in a research report on Wednesday, October 8th. Baird R W lowered Albany International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. boosted their price objective on Albany International from $59.00 to $63.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Finally, Zacks Research upgraded Albany International from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $64.25.

Albany International Trading Down 11.3%

NYSE:AIN opened at $47.91 on Friday. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 1.36 and a beta of 1.39. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.78 and a current ratio of 3.51. Albany International has a 1 year low of $47.65 and a 1 year high of $88.13. The business has a fifty day moving average of $57.02 and a 200-day moving average of $63.28.

Albany International (NYSE:AIN) last issued its quarterly earnings data on Wednesday, May 25th. The textile maker reported $0.43 earnings per share for the quarter. The business had revenue of $239.92 million for the quarter. Albany International had a net margin of 5.25% and a return on equity of 8.87%. Equities analysts predict that Albany International will post 3.23 earnings per share for the current year.

Institutional Investors Weigh In On Albany International

Hedge funds have recently modified their holdings of the stock. Brooklyn Investment Group boosted its position in shares of Albany International by 2,241.2% in the 1st quarter. Brooklyn Investment Group now owns 398 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 381 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Albany International by 227.3% during the second quarter. EverSource Wealth Advisors LLC now owns 540 shares of the textile maker’s stock valued at $38,000 after buying an additional 375 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Albany International by 32.4% in the second quarter. Smartleaf Asset Management LLC now owns 711 shares of the textile maker’s stock worth $49,000 after buying an additional 174 shares during the period. Osaic Holdings Inc. increased its position in shares of Albany International by 42.3% in the second quarter. Osaic Holdings Inc. now owns 908 shares of the textile maker’s stock worth $64,000 after acquiring an additional 270 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Albany International in the second quarter worth approximately $77,000. 97.37% of the stock is owned by hedge funds and other institutional investors.

About Albany International

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.