Albany International Corp. (NYSE:AIN) Receives Average Rating of “Buy” from Analysts

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Albany International Corp. (NYSE:AIN) has been assigned a consensus rating of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $90.33.

Several equities analysts recently issued reports on AIN shares. ValuEngine raised Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Cowen started coverage on Albany International in a research note on Monday, August 19th. They set a “market perform” rating and a $85.00 target price on the stock. Noble Financial reissued a “hold” rating on shares of Albany International in a research note on Sunday, August 4th. Zacks Investment Research raised Albany International from a “hold” rating to a “strong-buy” rating and set a $98.00 target price on the stock in a research note on Friday, August 2nd. Finally, Alembic Global Advisors started coverage on Albany International in a research note on Friday, June 28th. They set a “neutral” rating and a $90.00 target price on the stock.

Shares of NYSE AIN traded up $1.62 during mid-day trading on Tuesday, reaching $89.64. 155,613 shares of the company’s stock were exchanged, compared to its average volume of 155,415. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 34.88 and a beta of 1.71. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.66 and a current ratio of 3.19. Albany International has a 52-week low of $58.06 and a 52-week high of $89.89. The company’s 50-day moving average is $82.02 and its 200-day moving average is $77.24.

Albany International (NYSE:AIN) last released its quarterly earnings results on Tuesday, July 30th. The textile maker reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.24. The business had revenue of $273.95 million during the quarter, compared to analysts’ expectations of $267.75 million. Albany International had a return on equity of 17.42% and a net margin of 10.59%. As a group, equities analysts predict that Albany International will post 3.4 earnings per share for the current fiscal year.

The business also recently declared a — dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 9th will be given a $0.18 dividend. This represents a yield of 0.9%. The ex-dividend date is Friday, September 6th. Albany International’s dividend payout ratio is currently 28.02%.

Hedge funds have recently bought and sold shares of the business. Pearl River Capital LLC acquired a new stake in Albany International in the 2nd quarter valued at about $29,000. Huntington National Bank acquired a new stake in Albany International in the 2nd quarter valued at about $34,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Albany International in the 2nd quarter valued at about $39,000. Parallel Advisors LLC acquired a new stake in Albany International in the 1st quarter valued at about $50,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in Albany International by 82.3% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 720 shares of the textile maker’s stock valued at $60,000 after purchasing an additional 325 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

About Albany International

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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Analyst Recommendations for Albany International (NYSE:AIN)

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