Albany International (NYSE:AIN) Releases Earnings Results, Beats Expectations By $0.24 EPS

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Albany International (NYSE:AIN) announced its earnings results on Tuesday, July 30th. The textile maker reported $1.09 EPS for the quarter, beating the consensus estimate of $0.85 by $0.24, Fidelity Earnings reports. The business had revenue of $273.95 million during the quarter, compared to the consensus estimate of $267.75 million. Albany International had a return on equity of 17.42% and a net margin of 10.59%.

Shares of NYSE AIN opened at $81.82 on Friday. The business’s 50-day simple moving average is $81.51 and its 200-day simple moving average is $76.02. Albany International has a 52 week low of $58.06 and a 52 week high of $86.96. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 31.84 and a beta of 1.70. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.66 and a current ratio of 3.19.

In related news, Director Christine L. Standish sold 1,616,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $64.67, for a total transaction of $104,506,720.00. Following the completion of the sale, the director now owns 6,595 shares in the company, valued at approximately $426,498.65. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 10.99% of the stock is owned by corporate insiders.

AIN has been the topic of several recent analyst reports. Noble Financial reissued a “hold” rating on shares of Albany International in a research report on Sunday, August 4th. ValuEngine raised Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Alembic Global Advisors began coverage on Albany International in a research report on Friday, June 28th. They issued a “neutral” rating and a $90.00 target price on the stock. Finally, Zacks Investment Research raised Albany International from a “hold” rating to a “strong-buy” rating and set a $98.00 target price on the stock in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Albany International currently has an average rating of “Buy” and a consensus price target of $89.50.

Albany International Company Profile

Albany International Corp. engages in the textile and materials processing 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. This segment offers forming, pressing, and dryer fabrics, as well as process belts.

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Earnings History for Albany International (NYSE:AIN)

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