In yesterday’s Wall Street session, Albany International Corp. (NYSE:AIN) shares traded at $108.20, up 0.28% from the previous session.
As we calculate the median target price by taking the range between a high of $110.00 and a low of $85.00, we find $100.00. Given the previous closing price of $107.90, this indicates a potential downside of -7.32 percent. AIN stock price is now 5.84% away from the 50-day moving average and 21.39% away from the 200-day moving average. The market capitalization of the company currently stands at $3.26B.
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Brokers who have rated the stock have averaged $97.67 as their price target over the next twelve months.
With the price target maintained at $80, Truist recently Downgraded its rating from Buy to Hold for Albany International Corp. (NYSE: AIN). On February 22, 2022, BofA Securities Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock reducing its target price from $105 to quote $90, while ‘Truist’ rates the stock as ‘Buy’.
Insiders disposed of 21,878 shares of company stock worth roughly $2.37 million over the past 1 year. A total of 0.89% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AIN stock. A new stake in Albany International Corp. shares was purchased by GREAT WEST LIFE ASSURANCE CO /CAN/ during the first quarter worth $3,805,000. AMALGAMATED FINANCIAL CORP. invested $1,583,000 in shares of AIN during the first quarter. In the first quarter, MIRAE ASSET GLOBAL INVESTMENTS CO., LTD. acquired a new stake in Albany International Corp. valued at approximately $1,448,000. PDT PARTNERS, LLC acquired a new stake in AIN for approximately $1,249,000. GUGGENHEIM CAPITAL LLC purchased a new stake in AIN valued at around $1,066,000 in the second quarter.
Thursday morning saw Albany International Corp. (NYSE: AIN) opened at $108.75. During the past 12 months, Albany International Corp. has had a low of $75.24 and a high of $109.99. As of last week, the company has a debt-to-equity ratio of 0.55, a current ratio of 4.30, and a quick ratio of 3.60. The fifty day moving average price for AIN is $102.37 and a two-hundred day moving average price translates $89.27 for the stock.
The latest earnings results from Albany International Corp. (NYSE: AIN) was released for Sep, 2022. According to the Textile Manufacturing Company, earnings per share came in at $1.15, beating analysts’ expectations of $0.86 by 0.29. This compares to $0.95 EPS in the same period last year. The net profit margin was 10.60% and return on equity was 12.60% for AIN. The company reported revenue of $260.56 million for the quarter, compared to $232.44 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 12.1 percent. For the current quarter, analysts expect AIN to generate $244.95M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/09/2023. Investors who held shares on 12/27/2022 were paid a $0.25 dividend. On an annualized basis, this represents a $1.00 dividend and a 0.92% percent yield. There was an ex-dividend date of 12/23/2022 for this dividend. In terms of dividend payout ratio, AIN is presently at 24.70%.
Albany International Corp.(AIN) Company Profile
Albany International Corp., together with its subsidiaries, engages in the textile and materials processing business. 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, and towels. This segment offers forming, pressing, and drying fabrics, as well as process belts used in the manufacture of nonwovens, fiber cement and several other industrial applications; and engineered fabrics. The AEC segment 3D-woven and injected composite components for aircraft engines composite airframe and engine components for military and commercial aircraft. It operates in the United States, Switzerland, Brazil, China, France, Mexico, and internationally. Albany International Corp. was incorporated in 1895 and is headquartered in Rochester, New Hampshire.
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