Shares of Albany International Corp. (NYSE:AIN) have been assigned an average rating of “Buy” from the seven ratings firms that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $88.60.

AIN has been the subject of several recent research reports. Noble Financial reiterated a “hold” rating on shares of Albany International in a research report on Sunday, August 4th. ValuEngine upgraded Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Alembic Global Advisors started coverage on Albany International in a research report on Friday, June 28th. They set a “neutral” rating and a $90.00 target price for the company. Zacks Investment Research upgraded Albany International from a “hold” rating to a “strong-buy” rating and set a $98.00 target price for the company in a research report on Friday, August 2nd. Finally, Cowen started coverage on Albany International in a research report on Monday. They set a “market perform” rating and a $85.00 target price for the company.

Albany International stock traded up $0.19 during mid-day trading on Friday, reaching $81.67. 92,832 shares of the company’s stock were exchanged, compared to its average volume of 170,423. The business’s fifty day simple moving average is $81.49 and its 200 day simple moving average is $76.21. The firm has a market capitalization of $2.67 billion, a PE ratio of 31.78 and a beta of 1.70. Albany International has a one year low of $58.06 and a one year high of $86.96. The company has a quick ratio of 2.66, a current ratio of 3.19 and a debt-to-equity ratio of 0.74.

Albany International (NYSE:AIN) last released its earnings results on Tuesday, July 30th. The textile maker reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.24. The business had revenue of $273.95 million during the quarter, compared to the consensus estimate of $267.75 million. Albany International had a return on equity of 17.42% and a net margin of 10.59%. On average, sell-side analysts forecast that Albany International will post 3.4 earnings per share for the current year.

In other Albany International news, Director Christine L. Standish sold 1,616,000 shares of the firm’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 sale, the director now owns 6,595 shares of the company’s stock, valued at $426,498.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 10.99% of the company’s stock.

A number of hedge funds have recently modified their holdings of AIN. 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 shares of Albany International in the second quarter worth $34,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Albany International in the second quarter worth $39,000. Parallel Advisors LLC bought a new position in shares of Albany International during the first quarter valued at $50,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Albany International by 82.3% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 720 shares of the textile maker’s stock valued at $60,000 after buying an additional 325 shares in the last quarter. 90.39% 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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