Albany International Corp. (NYSE:AIN) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 517,600 shares, a decline of 23.6% from the September 30th total of 677,200 shares. Based on an average daily volume of 184,800 shares, the short-interest ratio is currently 2.8 days. Currently, 1.7% of the shares of the company are short sold.
Several equities analysts have commented on the stock. Cowen assumed coverage on shares of Albany International in a report on Monday, August 19th. They issued a “market perform” rating and a $85.00 price objective on the stock. Zacks Investment Research upgraded shares of Albany International from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a report on Monday, November 4th. Robert W. Baird downgraded shares of Albany International from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $93.00 to $80.00 in a report on Tuesday, October 22nd. Bank of America assumed coverage on shares of Albany International in a report on Thursday, September 12th. They issued a “buy” rating and a $99.00 price objective on the stock. Finally, ValuEngine downgraded shares of Albany International from a “hold” rating to a “sell” rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Albany International presently has a consensus rating of “Hold” and an average target price of $87.67.
Shares of AIN stock traded up $1.04 on Friday, hitting $86.43. The company’s stock had a trading volume of 3,246 shares, compared to its average volume of 208,106. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.58 and a current ratio of 3.13. The stock’s 50 day moving average is $85.65 and its 200-day moving average is $81.02. Albany International has a fifty-two week low of $58.06 and a fifty-two week high of $92.04. The company has a market capitalization of $2.78 billion, a PE ratio of 33.50, a PEG ratio of 2.24 and a beta of 1.66.
Albany International (NYSE:AIN) last released its quarterly earnings results on Tuesday, October 29th. The textile maker reported $1.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.40. Albany International had a net margin of 11.53% and a return on equity of 18.66%. The business had revenue of $271.13 million for the quarter, compared to the consensus estimate of $260.00 million. On average, research analysts forecast that Albany International will post 3.93 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Pearl River Capital LLC acquired a new position in shares of Albany International in the second quarter valued at about $29,000. Huntington National Bank acquired a new position in shares of Albany International in the second quarter valued at about $34,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Albany International in the second quarter valued at about $39,000. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Albany International by 82.3% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 720 shares of the textile maker’s stock valued at $60,000 after acquiring an additional 325 shares in the last quarter. Finally, First Mercantile Trust Co. acquired a new position in shares of Albany International in the third quarter valued at about $73,000. Institutional investors and hedge funds own 93.23% of the company’s stock.
Albany International Company Profile
Albany International Corp. engages in the textile and materials processing 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. This segment offers forming, pressing, and dryer fabrics, as well as process belts.
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