What’s Albany International Corp. (AIN) Upside After Forming Wedge Up Chart Pattern?

April 25, 2018 - By Richard Conner

Albany International Corp. (NYSE:AIN) Logo

Investors sentiment decreased to 1.03 in Q4 2017. 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.
101,854 are held by Sei Com. Teachers Retirement System Of The State Of Kentucky, Kentucky-based fund reported 10,000 shares. Earnest Limited Company owns 1.42 million shares or 0.83% of their US portfolio. Hudson Bay Cap Mngmt Limited Partnership has 88,845 shares for 0.12% of their portfolio. Stifel Financial stated it has 0% in Albany International Corp. (NYSE:AIN). Da Davidson And holds 3,285 shares. State Bank Of Montreal Can invested in 1,842 shares. Kennedy Mngmt reported 220,586 shares. Sg Americas Securities Ltd has 5,760 shares. California State Teachers Retirement has 45,262 shares. Loomis Sayles And Limited Partnership reported 0.07% in Albany International Corp. (NYSE:AIN). Ameritas Invest Prns has invested 0.01% in Albany International Corp. (NYSE:AIN). Geode Capital Mgmt Ltd Liability Company has 235,766 shares for 0% of their portfolio. Aperio Gru Ltd Liability Corporation holds 0% or 11,831 shares in its portfolio. Rhumbline Advisers owns 74,852 shares or 0.01% of their US portfolio.

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 firm earned “Hold” rating on Tuesday, March 6 by Stephens.

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

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.