Analysts Set $64.00 Price Target for Albany International Corp. (AIN)

Shares of Albany International Corp. (NYSE:AIN) have been assigned a consensus broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating.

Analysts have set a 1 year consensus price objective of $64.00 for the company and are forecasting that the company will post $0.50 earnings per share for the current quarter, according to Zacks. Zacks has also given Albany International an industry rank of 209 out of 255 based on the ratings given to its competitors.

Separately, Zacks Investment Research raised shares of Albany International from a “sell” rating to a “hold” rating in a report on Tuesday, April 10th.

Shares of Albany International traded down $0.95, hitting $66.10, on Monday, Marketbeat.com reports. 86,051 shares of the company’s stock traded hands, compared to its average volume of 106,613. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.67 and a current ratio of 3.24. Albany International has a one year low of $49.20 and a one year high of $68.85. The firm has a market cap of $2.10 billion, a P/E ratio of 41.06 and a beta of 1.61.

Albany International (NYSE:AIN) last released its earnings results on Monday, May 7th. The textile maker reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.03. Albany International had a net margin of 3.39% and a return on equity of 9.61%. The company had revenue of $229.98 million for the quarter, compared to analyst estimates of $228.50 million. During the same quarter last year, the firm earned $0.46 EPS. analysts forecast that Albany International will post 2 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 9th. Investors of record on Thursday, June 7th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Wednesday, June 6th. Albany International’s dividend payout ratio is currently 42.24%.

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Albany International by 2.1% during the 1st quarter. BlackRock Inc. now owns 3,675,280 shares of the textile maker’s stock valued at $230,441,000 after purchasing an additional 74,467 shares during the last quarter. Earnest Partners LLC boosted its position in Albany International by 2.0% during the 1st quarter. Earnest Partners LLC now owns 1,445,380 shares of the textile maker’s stock valued at $90,625,000 after buying an additional 27,774 shares during the period. Westwood Holdings Group Inc. boosted its position in Albany International by 20.8% during the 1st quarter. Westwood Holdings Group Inc. now owns 939,145 shares of the textile maker’s stock valued at $58,885,000 after buying an additional 161,424 shares during the period. Principal Financial Group Inc. boosted its position in Albany International by 3.2% during the 1st quarter. Principal Financial Group Inc. now owns 603,989 shares of the textile maker’s stock valued at $37,871,000 after buying an additional 18,573 shares during the period. Finally, Loomis Sayles & Co. L P boosted its position in Albany International by 4.5% during the 1st quarter. Loomis Sayles & Co. L P now owns 531,321 shares of the textile maker’s stock valued at $33,314,000 after buying an additional 22,886 shares during the period. 88.71% of the stock is currently owned by institutional investors.

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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