Baird took its Albany International [AIN] rating to the equivalent of Neutral from Outperform, and the price target to $79.0 from $70, in a research note dated 2021-01-11. That figure represents around a 3.74% premium from where the company’s shares closed on Friday. Meanwhile, Robert W. Baird had raised its rating on AIN to “an Outperform” from the earlier “Neutral”, in a research note produced for clients March 27, 2020. In addition, there was an upgrade from Sidoti on March 16, 2020. The rater changed AIN from “a Neutral” to “a Buy”.
Is Albany International Corp. [NYSE:AIN] a Good Buy Right Now?
It should be noted that AIN technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from Albany International Corp.’s Trend Spotter indicated that the signals were Weakening. The stock current average is 0.14 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.17 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.18 million shares.
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AIN Price Performance
On Wall Street, Albany International Corp. [NYSE:AIN] finished Friday’s session down -1.14% at $76.19. The stock went up to $77.66 at the same session while its lowest single day price was $74.90. In the last five days, it saw a rise of about 3.77%, Albany International Corp. shares gained by almost 3.77% since the beginning of the year. However, the share price has dropped to as low as -4.66% below its one year high. On 01/06/21, the company shares recorded $78.50, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $70.38. The company’s shares have declined by -0.66% in the past year. The 50-day SMA achieved is $67.68 while the 200-day SMA is $56.61. Volume dropped to 99062.0 from 0.11 million in the previous session.
Albany International Corp. [AIN] Valuation Measures
Notably, Albany International Corp. [AIN] stock cannot be classified as a good candidate in the listing of underestimated low-priced Textile Manufacturing companies to purchase soonest possible with the prevailing 12-month PE ratio of 24.59. The measure means the stock is exchanging at a premium as compared to the 19.08x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 2.67 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 0.77 which means AIN serve an unattractive investment opportunity compared to its competitors.
AIN Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 74.84 level, and in case of violation of this particular level, it will cause more drop to 73.49 level. On the upper level, 79.01 is still the key resistance. The stock may increase to the subsequent resistance at 77.60. The Relative Strength Index (RSI) pinned on the 14-day chart is 62.73, implying a neutral technical stance while the MACD stands at 3.07, meaning price will increase in the next trading period. Percent R indicator moved to 28.45%, implying bullish price movement. Stochastic %K at 78.33% suggest selling the stock.
What is the short interest in Albany International Corp.?
Short interest in the Albany International Corp. stock has surged, increasing by 29850.0 shares to total 0.61 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.64 million, data from Yahoo Finance shows. The decrease of -4.87% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 2.77% of the overall float for the stock.
Albany International Corp.’s Biggest Shareholders: Who Owns Albany International Corp. [AIN]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 4,097,002 shares or roughly 13.35% of the outstanding AIN shares. This means their shares have reduced by -130,527 from the 4,097,002 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $214,543,170. Details in the latest 13F filings reveal that EARNEST Partners LLC acquired their 20.67% stake valued at $130,868,931 while Kayne Anderson Rudnick Investment added theirs at $103,927,869. During the last quarter, EARNEST Partners LLC raised 327,049 of its shares in Albany International Corp. while Kayne Anderson Rudnick Investment bought 95,026 shares. The Wellington Management Co. LLP’s holdings currently number 1,250,688 shares at $95289918.72. According to the firm’s last 13F report, Dimensional Fund Advisors LP shares in the company at filing stood at 1,207,566 shares, roughly $82,754,498.
AIN Earnings Forecast For The Current Quarter
Albany International Corp. [AIN] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $209.36M and an earnings per share of $0.66 for Dec 2020. Looking further ahead, the company is expected to report revenue of $215.64M at an EPS of $0.68 for Mar 2021. The estimates represent downside of 1.90% and -9.92% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
AIN Earnings Estimates For The Current Year
For the financial year, Albany International Corp. [NYSE:AIN] is expected to bring in revenue of $883.19M. The returns are nearly $-166.81 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 3.45, lower than that of FY19 by -$0.66. Estimates put this year’s earnings growth at -16.10%, -9.90% for the next, and at an annual -1.20% over the next 5-year period. As for sales, forecasts are for a decrease of -16.20% in the current fiscal year and a further 1.90% over the following year.