Albany International (NYSE:AIN) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Tuesday.
A number of other analysts have also issued reports on the company. Stephens reaffirmed a “hold” rating on shares of Albany International in a research note on Thursday, August 16th. Zacks Investment Research raised Albany International from a “hold” rating to a “strong-buy” rating and set a $87.00 price target on the stock in a research note on Monday, August 13th. Finally, Noble Financial reiterated a “hold” rating on shares of Albany International in a research report on Wednesday, August 8th.
Shares of NYSE:AIN opened at $77.35 on Tuesday. The company has a current ratio of 2.99, a quick ratio of 2.49 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $2.48 billion, a PE ratio of 32.69 and a beta of 1.71. Albany International has a 1 year low of $51.85 and a 1 year high of $79.45.
Albany International (NYSE:AIN) last issued its quarterly earnings results on Monday, August 6th. The textile maker reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.28. The firm had revenue of $256.23 million for the quarter, compared to analyst estimates 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 previous year, the company posted $0.48 earnings per share. research analysts anticipate that Albany International will post 2.33 EPS for the current fiscal year.
In related news, VP Dawne H. Wimbrow sold 900 shares of Albany International stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $75.90, for a total transaction of $68,310.00. Following the transaction, the vice president now owns 300 shares in the company, valued at $22,770. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 11.75% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Albany International by 63.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the textile maker’s stock worth $139,000 after buying an additional 858 shares in the last quarter. FDx Advisors Inc. lifted its position in Albany International by 20.6% during the second quarter. FDx Advisors Inc. now owns 4,466 shares of the textile maker’s stock worth $269,000 after buying an additional 764 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Albany International during the second quarter worth approximately $280,000. Ramsey Quantitative Systems purchased a new position in Albany International during the second quarter worth approximately $295,000. Finally, Dynamic Technology Lab Private Ltd lifted its position in Albany International by 32.7% during the second quarter. Dynamic Technology Lab Private Ltd now owns 5,065 shares of the textile maker’s stock worth $305,000 after buying an additional 1,247 shares in the last quarter. Hedge funds and other institutional investors own 87.99% of the company’s stock.
About Albany International
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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To view ValuEngine’s full report, visit ValuEngine’s official website.
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