Albany International (NYSE:AIN) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Albany International (NYSE:AIN) had its price objective hoisted by JPMorgan Chase & Co. from $45.00 to $47.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the textile maker’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 18.77% from the stock’s previous close.

AIN has been the subject of a number of other research reports. Truist Financial set a $55.00 price target on shares of Albany International in a research note on Friday, January 9th. Zacks Research lowered shares of Albany International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 18th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Albany International in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Albany International currently has a consensus rating of “Reduce” and a consensus price target of $61.50.

Albany International Stock Performance

NYSE AIN opened at $57.86 on Friday. The company’s 50 day simple moving average is $50.11 and its two-hundred day simple moving average is $57.38. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.34 and a quick ratio of 1.84. Albany International has a 1 year low of $41.15 and a 1 year high of $83.65. The stock has a market capitalization of $1.66 billion, a PE ratio of -29.82, a P/E/G ratio of 2.33 and a beta of 1.21.

Albany International (NYSE:AIN) last issued its quarterly earnings data on Wednesday, November 5th. The textile maker reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.11). Albany International had a positive return on equity of 8.98% and a negative net margin of 4.66%.The business had revenue of $307.44 million during the quarter, compared to analysts’ expectations of $303.41 million. During the same quarter last year, the business posted $0.80 EPS. The company’s quarterly revenue was down 12.4% on a year-over-year basis. Analysts predict that Albany International will post 3.23 earnings per share for the current fiscal year.

Insider Transactions at Albany International

In related news, CEO Gunnar Kleveland acquired 2,300 shares of Albany International stock in a transaction dated Monday, November 17th. The shares were purchased at an average cost of $42.04 per share, with a total value of $96,692.00. Following the completion of the purchase, the chief executive officer owned 19,895 shares of the company’s stock, valued at $836,385.80. This represents a 13.07% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.76% of the stock is currently owned by insiders.

Institutional Trading of Albany International

Several hedge funds and other institutional investors have recently bought and sold shares of AIN. American Century Companies Inc. grew its holdings in shares of Albany International by 0.7% in the third quarter. American Century Companies Inc. now owns 1,709,230 shares of the textile maker’s stock worth $91,102,000 after purchasing an additional 11,265 shares during the last quarter. Bank of America Corp DE boosted its position in Albany International by 1.8% during the 2nd quarter. Bank of America Corp DE now owns 1,457,609 shares of the textile maker’s stock valued at $102,222,000 after buying an additional 25,283 shares during the period. William Blair Investment Management LLC grew its holdings in Albany International by 24.8% in the 3rd quarter. William Blair Investment Management LLC now owns 876,455 shares of the textile maker’s stock worth $46,715,000 after acquiring an additional 174,023 shares during the last quarter. Sei Investments Co. increased its position in shares of Albany International by 0.7% in the third quarter. Sei Investments Co. now owns 802,840 shares of the textile maker’s stock valued at $42,791,000 after acquiring an additional 5,426 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of Albany International by 11,101.8% in the third quarter. Franklin Resources Inc. now owns 648,810 shares of the textile maker’s stock valued at $32,324,000 after acquiring an additional 643,018 shares during the period. Institutional investors own 97.37% of the company’s stock.

About Albany International

Albany International Corp. is a global advanced materials company specializing in engineered textiles and composites. Its business is organized into two primary segments: Process Media and Engineered Composites. The Process Media segment designs, manufactures and services press, forming and drying fabrics used in the production of paper and packaging materials, helping paper manufacturers improve efficiency, quality and sustainability. The Engineered Composites segment produces lightweight composite structures and components for aerospace and industrial applications, serving commercial and military aircraft programs as well as industrial markets that require high-performance, durable materials.

In the Process Media segment, Albany’s products include forming fabrics, press felts and dryer fabrics engineered to withstand extreme moisture and temperature conditions.