JPMorgan Chase & Co. Lowers Albany International (NYSE:AIN) Price Target to $96.00

Albany International (NYSE:AIN) had its price target decreased by analysts at JPMorgan Chase & Co. from $98.00 to $96.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the textile maker’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 13.38% from the company’s current price.

Other equities analysts also recently issued research reports about the company. TD Cowen dropped their price target on Albany International from $106.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday. Bank of America reissued an “underperform” rating and issued a $95.00 target price (down previously from $105.00) on shares of Albany International in a research note on Thursday, March 28th. Finally, Truist Financial reduced their target price on shares of Albany International from $121.00 to $104.00 and set a “buy” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Albany International has an average rating of “Moderate Buy” and an average price target of $102.00.

Albany International Price Performance

Shares of AIN opened at $84.67 on Friday. The company has a current ratio of 3.99, a quick ratio of 2.85 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average is $90.68 and its two-hundred day moving average is $89.63. Albany International has a twelve month low of $78.20 and a twelve month high of $99.41. The firm has a market capitalization of $2.64 billion, a PE ratio of 23.78, a P/E/G ratio of 2.18 and a beta of 1.28.

Albany International (NYSE:AIN) last announced its earnings results on Tuesday, April 30th. The textile maker reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $313.33 million during the quarter, compared to analysts’ expectations of $313.41 million. Albany International had a net margin of 9.35% and a return on equity of 13.40%. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 earnings per share. Research analysts anticipate that Albany International will post 3.89 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Robert D. Starr acquired 1,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $84.44 per share, with a total value of $84,440.00. Following the purchase, the chief financial officer now directly owns 2,610 shares in the company, valued at approximately $220,388.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Albany International

A number of large investors have recently bought and sold shares of AIN. GSA Capital Partners LLP increased its holdings in shares of Albany International by 201.8% during the 1st quarter. GSA Capital Partners LLP now owns 9,878 shares of the textile maker’s stock worth $924,000 after buying an additional 6,605 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in Albany International during the first quarter valued at about $128,000. Whittier Trust Co. increased its stake in Albany International by 94.7% during the first quarter. Whittier Trust Co. now owns 547 shares of the textile maker’s stock worth $51,000 after acquiring an additional 266 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Albany International by 13.7% in the 1st quarter. BNP Paribas Financial Markets now owns 25,779 shares of the textile maker’s stock worth $2,411,000 after purchasing an additional 3,104 shares during the period. Finally, Essex Financial Services Inc. lifted its stake in shares of Albany International by 11.3% in the 1st quarter. Essex Financial Services Inc. now owns 6,098 shares of the textile maker’s stock valued at $570,000 after purchasing an additional 620 shares in the last quarter. Hedge funds and other institutional investors own 97.37% of the company’s stock.

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.