Albany International (NYSE:AIN) Price Target Cut to $96.00 by Analysts at JPMorgan Chase & Co.

Albany International (NYSE:AIN) had its price objective lowered by JPMorgan Chase & Co. from $98.00 to $96.00 in a research note published on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the textile maker’s stock.

Other analysts have also recently issued reports about the company. TD Cowen decreased their price objective on Albany International from $106.00 to $95.00 and set a buy rating on the stock in a report on Wednesday, May 1st. Bank of America reaffirmed an underperform rating and set a $95.00 price target (down previously from $105.00) on shares of Albany International in a research note on Thursday, March 28th. Finally, Truist Financial dropped their price objective on shares of Albany International from $121.00 to $104.00 and set a buy rating for the company in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Albany International has a consensus rating of Moderate Buy and an average target price of $102.00.

Albany International Price Performance

Shares of NYSE:AIN opened at $84.67 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.85 and a current ratio of 3.99. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 2.21 and a beta of 1.28. The firm has a fifty day moving average price of $90.68 and a 200 day moving average price of $89.66. Albany International has a fifty-two week low of $78.20 and a fifty-two week high of $99.41.

Albany International (NYSE:AIN) last issued its quarterly earnings data on Tuesday, April 30th. The textile maker reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $313.33 million during the quarter, compared to analyst estimates of $313.41 million. Albany International had a return on equity of 13.40% and a net margin of 9.35%. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share. As a group, sell-side analysts expect that Albany International will post 3.89 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Thursday, March 14th. Albany International’s dividend payout ratio is currently 29.21%.

Insider Transactions at Albany International

In other news, CFO Robert D. Starr purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average cost of $84.44 per share, for a total transaction of $84,440.00. Following the acquisition, the chief financial officer now owns 2,610 shares of the company’s stock, valued at approximately $220,388.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.76% of the company’s stock.

Hedge Funds Weigh In On Albany International

Hedge funds have recently bought and sold shares of the business. Arizona State Retirement System boosted its stake in shares of Albany International by 1.5% during the third quarter. Arizona State Retirement System now owns 8,883 shares of the textile maker’s stock valued at $766,000 after purchasing an additional 129 shares during the period. HighTower Advisors LLC boosted its position in Albany International by 1.0% in the 3rd quarter. HighTower Advisors LLC now owns 16,134 shares of the textile maker’s stock valued at $1,401,000 after buying an additional 156 shares during the period. MQS Management LLC grew its stake in Albany International by 2.4% in the 3rd quarter. MQS Management LLC now owns 6,584 shares of the textile maker’s stock worth $568,000 after acquiring an additional 156 shares in the last quarter. Inspire Investing LLC raised its stake in shares of Albany International by 4.9% during the third quarter. Inspire Investing LLC now owns 3,543 shares of the textile maker’s stock valued at $306,000 after acquiring an additional 167 shares in the last quarter. Finally, Strs Ohio boosted its holdings in shares of Albany International by 22.2% in the fourth quarter. Strs Ohio now owns 1,100 shares of the textile maker’s stock valued at $108,000 after purchasing an additional 200 shares during the period. Institutional investors 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.