A number of other analysts have also recently weighed in on AIN. Zacks Investment Research upgraded Albany International from a hold rating to a strong-buy rating and set a $87.00 price target on the stock in a research report on Monday, August 13th. ValuEngine cut Albany International from a buy rating to a hold rating in a research report on Monday, August 13th. Finally, Noble Financial restated a hold rating on shares of Albany International in a research report on Wednesday, August 8th.
Shares of Albany International stock opened at $76.90 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.49 and a current ratio of 2.99. The company has a market cap of $2.45 billion, a PE ratio of 47.76 and a beta of 1.67. Albany International has a twelve month low of $49.20 and a twelve month high of $78.30.
Albany International (NYSE:AIN) last announced its quarterly earnings results on Monday, August 6th. The textile maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.28. The business had revenue of $256.23 million for the quarter, compared to analysts’ expectations of $233.50 million. Albany International had a return on equity of 13.03% and a net margin of 6.38%. During the same period in the prior year, the firm earned $0.48 EPS. research analysts expect that Albany International will post 2.33 EPS for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Albany International by 63.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the textile maker’s stock valued at $139,000 after purchasing an additional 858 shares during the period. FDx Advisors Inc. increased its position in shares of Albany International by 20.6% during the 2nd quarter. FDx Advisors Inc. now owns 4,466 shares of the textile maker’s stock valued at $269,000 after purchasing an additional 764 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of Albany International during the 2nd quarter valued at $280,000. Ramsey Quantitative Systems acquired a new position in shares of Albany International during the 2nd quarter valued at $295,000. Finally, Dynamic Technology Lab Private Ltd increased its position in shares of Albany International by 32.7% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 5,065 shares of the textile maker’s stock valued at $305,000 after purchasing an additional 1,247 shares during the period. Hedge funds and other institutional investors own 89.18% of the company’s stock.
Albany International Company Profile
Albany International Corp. engages in textile and materials processing businesses worldwide. The company operates through 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, dryer fabrics, and process belts.
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