Truist Financial Cuts Albany International (NYSE:AIN) Price Target to $50.00

Albany International (NYSE:AIN) had its price target decreased by Truist Financial from $55.00 to $50.00 in a research report report published on Friday morning,Benzinga reports. Truist Financial currently has a hold rating on the textile maker’s stock.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Albany International from $59.00 to $63.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Robert W. Baird cut shares of Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 price objective for the company. in a report on Thursday, July 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of Albany International in a report on Wednesday, October 8th. Baird R W lowered Albany International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Finally, Zacks Research upgraded Albany International from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Albany International currently has an average rating of “Hold” and a consensus target price of $64.25.

Albany International Stock Performance

Shares of Albany International stock opened at $47.91 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.78 and a current ratio of 3.51. Albany International has a 1 year low of $47.65 and a 1 year high of $88.13. The firm’s 50-day simple moving average is $57.02 and its 200-day simple moving average is $63.28. The firm has a market cap of $1.41 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 1.36 and a beta of 1.39.

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

Albany International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.08 annualized dividend and a dividend yield of 2.3%. Albany International’s dividend payout ratio (DPR) is currently -55.67%.

Institutional Investors Weigh In On Albany International

Several hedge funds have recently modified their holdings of AIN. Nuveen LLC acquired a new stake in shares of Albany International in the first quarter worth $18,985,000. Entropy Technologies LP acquired a new stake in Albany International during the 1st quarter worth about $407,000. Jump Financial LLC purchased a new position in Albany International during the 1st quarter valued at about $1,740,000. Dynamic Technology Lab Private Ltd purchased a new position in Albany International during the 1st quarter valued at about $416,000. Finally, Hsbc Holdings PLC lifted its position in shares of Albany International by 184.7% in the first quarter. Hsbc Holdings PLC now owns 11,238 shares of the textile maker’s stock worth $779,000 after purchasing an additional 7,290 shares in the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.

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.