Albany International (NYSE:AIN) Price Target Lowered to $65.00 at Bank of America

Albany International (NYSE:AIN) had its price target cut by Bank of America from $75.00 to $65.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an underperform rating on the textile maker’s stock.

AIN has been the subject of a number of other research reports. Wall Street Zen raised Albany International from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Truist Financial lowered their price target on Albany International from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. JPMorgan Chase & Co. upped their price target on Albany International from $65.00 to $77.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Finally, Robert W. Baird lowered 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. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong 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 $79.00.

Albany International Trading Down 1.8%

NYSE AIN opened at $64.91 on Monday. Albany International has a 1-year low of $57.71 and a 1-year high of $95.47. The company has a current ratio of 3.68, a quick ratio of 2.94 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average of $65.62 and a 200-day moving average of $74.65. The firm has a market cap of $1.96 billion, a PE ratio of 20.29 and a beta of 1.37.

Albany International (NYSE:AIN) last released its quarterly earnings results on Wednesday, April 30th. The textile maker reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.15. The business had revenue of $288.77 million during the quarter, compared to analyst estimates of $300.74 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. Albany International’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 EPS. As a group, sell-side analysts forecast that Albany International will post 3.23 EPS for the current year.

Albany International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Friday, June 6th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, June 6th. Albany International’s dividend payout ratio is currently 43.55%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AIN. Brooklyn Investment Group raised 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 worth $27,000 after acquiring an additional 381 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Albany International in the 4th quarter worth approximately $40,000. Smartleaf Asset Management LLC grew its stake in shares of Albany International by 306.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker’s stock worth $53,000 after buying an additional 503 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Albany International by 735.6% in the 4th quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker’s stock worth $60,000 after buying an additional 662 shares during the last quarter. Finally, Vestcor Inc purchased a new stake in shares of Albany International in the 4th quarter worth approximately $70,000. 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.