JPMorgan Chase & Co. Increases Albany International (NYSE:AIN) Price Target to $77.00

Albany International (NYSE:AIN) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $65.00 to $77.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the textile maker’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 11.35% from the stock’s current price.

Several other brokerages also recently commented on AIN. StockNews.com upgraded Albany International from a “hold” rating to a “buy” rating in a research note on Friday. Bank of America cut their price objective on Albany International from $80.00 to $75.00 and set an “underperform” rating for the company in a research report on Tuesday, March 25th. Robert W. Baird dropped their price target on Albany International from $104.00 to $92.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. Finally, Truist Financial decreased their price objective on shares of Albany International from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $81.00.

Albany International Stock Up 1.1%

Shares of NYSE:AIN opened at $69.15 on Friday. Albany International has a 1 year low of $57.71 and a 1 year high of $95.47. The company has a market cap of $2.09 billion, a PE ratio of 21.61 and a beta of 1.37. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94. The stock’s 50-day moving average is $67.11 and its 200 day moving average is $75.53.

Albany International (NYSE:AIN) last posted its earnings results on Wednesday, April 30th. The textile maker reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.15. The firm had revenue of $288.77 million for the quarter, compared to the consensus estimate of $300.74 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The business’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 EPS. Sell-side analysts anticipate that Albany International will post 3.23 EPS for the current year.

Hedge Funds Weigh In On Albany International

A number of large investors have recently bought and sold shares of the business. Bank of America Corp DE grew its holdings in shares of Albany International by 3,050.6% during the fourth quarter. Bank of America Corp DE now owns 1,363,946 shares of the textile maker’s stock valued at $109,075,000 after buying an additional 1,320,654 shares during the last quarter. American Century Companies Inc. grew its stake in Albany International by 3,380.5% during the 4th quarter. American Century Companies Inc. now owns 849,379 shares of the textile maker’s stock valued at $67,925,000 after acquiring an additional 824,975 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Albany International during the 4th quarter valued at about $62,181,000. Norges Bank purchased a new stake in shares of Albany International in the 4th quarter valued at approximately $39,044,000. Finally, Nuveen LLC purchased a new stake in shares of Albany International in the 1st quarter valued at approximately $18,985,000. 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.