Zacks: Albany International Corp. (AIN) Given Consensus Recommendation of “Hold” by Analysts

Shares of Albany International Corp. (NYSE:AIN) have earned an average broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating.

Zacks has also given Albany International an industry rank of 108 out of 256 based on the ratings given to its competitors.

Several research analysts recently weighed in on the company. Zacks Investment Research lowered Albany International from a “buy” rating to a “hold” rating in a research report on Wednesday, November 7th. Sidoti cut their target price on Albany International from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Monday, December 17th. ValuEngine lowered Albany International from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Finally, Noble Financial reaffirmed a “hold” rating on shares of Albany International in a research report on Sunday, December 9th.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Albany International by 3.7% during the third quarter. BlackRock Inc. now owns 4,132,731 shares of the textile maker’s stock valued at $328,552,000 after buying an additional 146,117 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Albany International by 4.2% during the third quarter. Vanguard Group Inc. now owns 2,937,817 shares of the textile maker’s stock valued at $233,557,000 after buying an additional 117,943 shares during the last quarter. Vanguard Group Inc raised its holdings in shares of Albany International by 4.2% during the third quarter. Vanguard Group Inc now owns 2,937,817 shares of the textile maker’s stock valued at $233,557,000 after buying an additional 117,943 shares during the last quarter. Earnest Partners LLC raised its holdings in shares of Albany International by 0.3% during the third quarter. Earnest Partners LLC now owns 1,455,283 shares of the textile maker’s stock valued at $115,695,000 after buying an additional 3,865 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Albany International by 4.2% during the third quarter. Renaissance Technologies LLC now owns 653,100 shares of the textile maker’s stock worth $51,921,000 after purchasing an additional 26,600 shares in the last quarter. 87.06% of the stock is currently owned by institutional investors.

Shares of Albany International stock traded down $0.12 during trading hours on Monday, reaching $68.17. 103,234 shares of the company’s stock were exchanged, compared to its average volume of 151,250. Albany International has a 52-week low of $57.95 and a 52-week high of $82.20. The firm has a market cap of $2.16 billion, a PE ratio of 42.34 and a beta of 1.72. The company has a quick ratio of 2.41, a current ratio of 2.90 and a debt-to-equity ratio of 0.87.

Albany International (NYSE:AIN) last issued its earnings results on Tuesday, October 30th. The textile maker reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.15. The business had revenue of $253.25 million for the quarter, compared to analyst estimates of $248.50 million. Albany International had a return on equity of 14.33% and a net margin of 7.51%. Equities research analysts anticipate that Albany International will post 2.76 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 8th. Stockholders of record on Wednesday, December 26th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Monday, December 24th. This is a boost from Albany International’s previous quarterly dividend of $0.17. Albany International’s payout ratio is 44.72%.

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.

See Also: Intrinsic Value and Stock Selection

Get a free copy of the Zacks research report on Albany International (AIN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Albany International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albany International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply