Albany International Corp. (AIN) Stock Formed Wedge Up. What To Expect?

April 25, 2018 - By Louis Casey

Albany International Corp. (NYSE:AIN) Logo

Investors sentiment decreased to 1.03 in 2017 Q4. Its down 0.19, from 1.22 in 2017Q3. It dropped, as 9 investors sold Albany International Corp. shares while 62 reduced holdings. 22 funds opened positions while 51 raised stakes. 28.52 million shares or 1.45% less from 28.94 million shares in 2017Q3 were reported.
Invesco has invested 0.02% in Albany International Corp. (NYSE:AIN). Millennium Mgmt Ltd Liability Company owns 12,867 shares. California Public Employees Retirement owns 43,997 shares for 0% of their portfolio. Tygh Cap Mngmt owns 88,910 shares for 1.03% of their portfolio. California State Teachers Retirement Systems has invested 0.01% in Albany International Corp. (NYSE:AIN). Pacad Limited holds 0% in Albany International Corp. (NYSE:AIN) or 200 shares. The Maryland-based Proshare Ltd Liability Corporation has invested 0% in Albany International Corp. (NYSE:AIN). Bancorporation Of Montreal Can reported 0% in Albany International Corp. (NYSE:AIN). Bank Of America De has invested 0% in Albany International Corp. (NYSE:AIN). Northwestern Mutual Wealth Management accumulated 7 shares. Brazil-based Bw Gestao De Investimentos Ltda has invested 0.26% in Albany International Corp. (NYSE:AIN). Employees Retirement Association Of Colorado reported 0% stake. Metropolitan Life Insur invested 0.01% in Albany International Corp. (NYSE:AIN). Pnc Grp accumulated 1,471 shares. Fruth Invest Mngmt holds 0.63% of its portfolio in Albany International Corp. (NYSE:AIN) for 24,350 shares.

The stock of Albany International Corp. (AIN) formed an up wedge with $67.31 target or 9.00 % above today’s $61.75 share price. The 8 months wedge indicates low risk for the $1.99B company. If the $67.31 price target is reached, the company will be worth $179.19 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 1.52% or $0.95 during the last trading session, reaching $61.75. About 93,122 shares traded. Albany International Corp. (NYSE:AIN) has risen 40.79% since April 25, 2017 and is uptrending. It has outperformed by 29.24% the S&P500.

Analysts await Albany International Corp. (NYSE:AIN) to report earnings on May, 7 after the close. They expect $0.47 EPS, up 2.17 % or $0.01 from last year’s $0.46 per share. AIN’s profit will be $15.15 million for 32.85 P/E if the $0.47 EPS becomes a reality. After $0.43 actual EPS reported by Albany International Corp. for the previous quarter, Wall Street now forecasts 9.30 % EPS growth.

Albany International Corp. (NYSE:AIN) Ratings Coverage

Among 2 analysts covering Albany International (NYSE:AIN), 0 have Buy rating, 0 Sell and 2 Hold. Therefore 0 are positive. Albany International had 2 analyst reports since January 9, 2018 according to SRatingsIntel. The rating was initiated by Stephens with “Hold” on Tuesday, March 6.

Albany International Corp. (NYSE:AIN) Institutional Positions Chart

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