Albany International (NYSE:AIN) Trading Up 5.1% – Should You Buy?

Shares of Albany International Corporation (NYSE:AIN) traded up 5.1% on Thursday . The stock traded as high as $44.24 and last traded at $44.3110. 592,120 shares were traded during trading, an increase of 103% from the average session volume of 292,268 shares. The stock had previously closed at $42.15.

Analyst Ratings Changes

Several research firms have recently weighed in on AIN. Baird R W lowered shares of Albany International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Robert W. Baird lowered shares of Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 target price for the company. in a research note on Thursday, July 31st. JPMorgan Chase & Co. increased their price objective on Albany International from $59.00 to $63.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Truist Financial decreased their target price on shares of Albany International from $55.00 to $50.00 and set a “hold” rating for the company in a report on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Albany International in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $64.25.

Albany International Stock Performance

The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.78 and a current ratio of 3.51. The company has a market cap of $1.30 billion, a P/E ratio of 22.71, a P/E/G ratio of 1.36 and a beta of 1.39. The firm has a 50 day moving average price of $53.68 and a 200-day moving average price of $61.89.

Albany International (NYSE:AIN) last posted its earnings results on Wednesday, May 25th. The textile maker reported $0.43 earnings per share for the quarter. Albany International had a return on equity of 8.87% and a net margin of 5.25%.The firm had revenue of $239.92 million during the quarter. On average, research analysts predict that Albany International Corporation will post 3.23 EPS for the current year.

Insider Transactions at Albany International

In other news, CEO Gunnar Kleveland bought 2,300 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were purchased at an average price of $42.04 per share, for a total transaction of $96,692.00. Following the acquisition, the chief executive officer directly owned 19,895 shares of the company’s stock, valued at $836,385.80. The trade was a 13.07% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.76% of the company’s stock.

Hedge Funds Weigh In On Albany International

Large investors have recently made changes to their positions in the business. Nuveen LLC bought a new position in Albany International during the first quarter worth $18,985,000. Entropy Technologies LP acquired a new stake in Albany International in the 1st quarter worth $407,000. Jump Financial LLC bought a new position in shares of Albany International during the 1st quarter worth about $1,740,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Albany International during the first quarter valued at about $416,000. Finally, Hsbc Holdings PLC raised its position in shares of Albany International by 184.7% during the first quarter. Hsbc Holdings PLC now owns 11,238 shares of the textile maker’s stock valued at $779,000 after buying an additional 7,290 shares during the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.

Albany International Company Profile

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.