Albany International (NYSE:AIN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $79.00 price objective on the textile maker’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 6.25% from the stock’s current price.
According to Zacks, “Albany International Corp. is a global advanced textiles and materials processing company. Albany International has two core businesses, The Machine Clothing segment is the world’s leading producer of custom-designed fabrics and belts essential to production in the paper, nonwovens, and other process industries. Albany Engineered Composites (AEC) is a rapidly growing supplier of highly engineered composite parts for the aerospace industry. Albany International products and technologies help make paper smoother, tissue softer, and aircraft engines and structures lighter. “
AIN has been the topic of a number of other reports. Noble Financial restated a “hold” rating on shares of Albany International in a report on Sunday, December 9th. Sidoti cut their price target on Albany International from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Monday, December 17th. Five research analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and an average target price of $73.33.
Several institutional investors have recently made changes to their positions in AIN. Northern Trust Corp increased its position in Albany International by 3.6% during the 2nd quarter. Northern Trust Corp now owns 407,740 shares of the textile maker’s stock worth $24,527,000 after purchasing an additional 14,207 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Albany International by 40.2% during the 3rd quarter. Bank of Montreal Can now owns 3,422 shares of the textile maker’s stock worth $273,000 after purchasing an additional 982 shares in the last quarter. Scout Investments Inc. boosted its stake in Albany International by 2.1% in the third quarter. Scout Investments Inc. now owns 72,915 shares of the textile maker’s stock worth $5,797,000 after purchasing an additional 1,521 shares in the last quarter. Aperio Group LLC raised its position in shares of Albany International by 7.1% during the third quarter. Aperio Group LLC now owns 17,919 shares of the textile maker’s stock worth $1,425,000 after acquiring an additional 1,188 shares during the last quarter. Finally, James Investment Research Inc. bought a new stake in shares of Albany International in the third quarter worth about $2,120,000. 88.97% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Story: How to Track your Portfolio in Google Finance
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.