Albany International (NYSE:AIN) Stock Rating Lowered by Zacks Research

Albany International (NYSE:AIN) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other brokerages also recently issued reports on AIN. JPMorgan Chase & Co. increased their price objective on shares of Albany International from $59.00 to $63.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Baird R W downgraded Albany International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Robert W. Baird cut Albany International from an “outperform” rating to a “neutral” rating and set a $79.00 price objective for the company. in a research report on Thursday, July 31st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Albany International in a research note on Thursday, November 13th. Finally, Truist Financial lowered their price target on shares of Albany International from $55.00 to $50.00 and set a “hold” rating on the stock in a research note on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $64.25.

Albany International Trading Up 3.0%

Shares of Albany International stock traded up $1.27 during trading hours on Tuesday, hitting $43.42. The company’s stock had a trading volume of 79,848 shares, compared to its average volume of 290,102. The company has a market capitalization of $1.25 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 1.36 and a beta of 1.39. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.51 and a quick ratio of 2.78. The stock has a 50 day moving average of $54.26 and a 200 day moving average of $62.14. Albany International has a 12 month low of $41.15 and a 12 month high of $88.13.

Albany International (NYSE:AIN) last issued its quarterly earnings data on Wednesday, May 25th. The textile maker reported $0.43 earnings per share (EPS) for the quarter. The business had revenue of $239.92 million during the quarter. Albany International had a return on equity of 8.87% and a net margin of 5.25%. Analysts predict that Albany International will post 3.23 earnings per share for the current year.

Insider Activity at Albany International

In related news, CEO Gunnar Kleveland acquired 2,300 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were bought at an average cost of $42.04 per share, with a total value of $96,692.00. Following the completion of the transaction, the chief executive officer directly owned 19,895 shares of the company’s stock, valued at $836,385.80. This trade represents a 13.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Albany International

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Caxton Associates LLP acquired a new stake in Albany International during the 3rd quarter worth approximately $1,072,000. Voloridge Investment Management LLC boosted its stake in shares of Albany International by 173.0% in the third quarter. Voloridge Investment Management LLC now owns 162,908 shares of the textile maker’s stock valued at $8,683,000 after buying an additional 103,231 shares during the period. Verition Fund Management LLC grew its position in Albany International by 341.8% during the third quarter. Verition Fund Management LLC now owns 60,025 shares of the textile maker’s stock worth $3,199,000 after buying an additional 46,438 shares in the last quarter. Numerai GP LLC acquired a new position in Albany International in the 3rd quarter valued at $2,658,000. Finally, Millennium Management LLC raised its holdings in Albany International by 1,078.5% in the 3rd quarter. Millennium Management LLC now owns 313,830 shares of the textile maker’s stock valued at $16,727,000 after acquiring an additional 287,200 shares in the last quarter. Institutional investors own 97.37% of the company’s stock.

About Albany International

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.