Cowen began coverage on shares of Albany International (NYSE:AIN) in a research report released on Monday, BenzingaRatingsTable reports. The firm issued a market perform rating and a $85.00 target price on the textile maker’s stock.
A number of other equities analysts also recently commented on AIN. Zacks Investment Research upgraded shares of Albany International from a hold rating to a strong-buy rating and set a $98.00 target price for the company in a report on Friday, August 2nd. Noble Financial reiterated a hold rating on shares of Albany International in a report on Sunday, August 4th. ValuEngine upgraded shares of Albany International from a hold rating to a buy rating in a report on Thursday, August 1st. Finally, Alembic Global Advisors initiated coverage on shares of Albany International in a report on Friday, June 28th. They issued a neutral rating and a $90.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Albany International currently has an average rating of Buy and an average price target of $88.60.
AIN stock opened at $81.67 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.19 and a quick ratio of 2.66. The business has a 50-day moving average price of $81.47 and a 200 day moving average price of $76.27. The company has a market capitalization of $2.67 billion, a P/E ratio of 31.78 and a beta of 1.70. Albany International has a 1-year low of $58.06 and a 1-year high of $86.96.
In other Albany International news, Director Christine L. Standish sold 1,616,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $64.67, for a total value of $104,506,720.00. Following the completion of the transaction, the director now directly owns 6,595 shares in the company, valued at $426,498.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.99% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its position in Albany International by 2,086.2% in the 2nd quarter. Royal Bank of Canada now owns 105,526 shares of the textile maker’s stock worth $8,749,000 after purchasing an additional 100,699 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted 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 worth $60,000 after purchasing an additional 325 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in Albany International by 9.4% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 365,396 shares of the textile maker’s stock worth $30,295,000 after purchasing an additional 31,515 shares in the last quarter. Bamco Inc. NY boosted its position in Albany International by 37.5% in the 2nd quarter. Bamco Inc. NY now owns 111,471 shares of the textile maker’s stock worth $9,242,000 after purchasing an additional 30,400 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new stake in Albany International in the 2nd quarter worth approximately $25,927,000. Institutional investors and hedge funds own 90.39% 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.
See Also: How mutual funds make money
Receive News & Ratings for Albany International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albany International and related companies with MarketBeat.com's FREE daily email newsletter.