Albany International (NYSE:AIN – Get Rating) issued an update on its first quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.91 for the period, compared to the Thomson Reuters consensus estimate of $0.77. The company issued revenue guidance of $244.2 million, compared to the consensus revenue estimate of $226.39 million.Albany International also updated its FY 2022 guidance to $2.800-$3.300 EPS.
Shares of NYSE AIN traded up $0.22 during midday trading on Monday, reaching $83.33. 181,392 shares of the company traded hands, compared to its average volume of 163,800. Albany International has a 12 month low of $74.17 and a 12 month high of $93.43. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 4.88 and a beta of 1.33. The company has a current ratio of 3.65, a quick ratio of 3.08 and a debt-to-equity ratio of 0.40. The business’s 50-day moving average price is $84.89.
Albany International (NYSE:AIN – Get Rating) last announced its earnings results on Tuesday, February 15th. The textile maker reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.25. Albany International had a return on equity of 13.44% and a net margin of 12.75%. The company had revenue of $239.92 million during the quarter, compared to analyst estimates of $224.76 million. During the same period last year, the company posted $0.89 earnings per share. Equities analysts expect that Albany International will post 3.16 earnings per share for the current fiscal year.
A number of brokerages have recently weighed in on AIN. Truist Financial upgraded Albany International from a hold rating to a buy rating and raised their target price for the company from $85.00 to $100.00 in a research note on Friday, January 7th. Zacks Investment Research lowered Albany International from a hold rating to a sell rating in a research report on Monday, January 10th. Bank of America reiterated a neutral rating and issued a $90.00 price objective (down from $105.00) on shares of Albany International in a research report on Tuesday, February 22nd. Finally, StockNews.com started coverage on Albany International in a research report on Thursday, March 31st. They issued a buy rating for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $95.33.
Institutional investors have recently bought and sold shares of the company. LPL Financial LLC acquired a new position in shares of Albany International during the 3rd quarter worth about $212,000. Janus Henderson Group PLC acquired a new position in shares of Albany International during the 3rd quarter worth about $238,000. UBS Group AG grew its position in shares of Albany International by 49.7% during the 3rd quarter. UBS Group AG now owns 3,101 shares of the textile maker’s stock worth $238,000 after buying an additional 1,029 shares during the period. MML Investors Services LLC grew its position in shares of Albany International by 5.9% during the 4th quarter. MML Investors Services LLC now owns 5,214 shares of the textile maker’s stock worth $461,000 after buying an additional 292 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Albany International during the 4th quarter worth about $744,000. Institutional investors own 98.25% of the company’s stock.
About Albany International (Get Rating)
Albany International Corp., together with its subsidiaries, engages in the textile and materials processing business. 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, and towels.
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