Barclays now sees two Fed cuts this year, says jumbo Fed cuts ’very unlikely’
Investing.com - Baird downgraded Albany International (NYSE:AIN) from Outperform to Neutral on Thursday, maintaining its price target of $79.00. According to InvestingPro data, the company maintains a FAIR financial health score, with liquid assets exceeding short-term obligations and operating with moderate debt levels.
The research firm cited reduced confidence in the Aerospace Engineered Composites (AEC) margin outlook, which requires a steep ramp-up in the second half of 2025 while facing ongoing charges.
Baird also noted softness in Albany’s Machine Clothing (MC) business, which similarly needs a margin recovery in the latter half of 2025.
Despite the downgrade, Baird remains constructive on the long-term upside potential of the AEC business, pointing to aerospace build rate improvements expected through the late decade.
The firm also acknowledged potential tailwinds within Defense, but concluded the risk/reward profile for Albany International now appears more balanced given the challenging margin ramp requirements and ongoing program charges.
In other recent news, Albany International Corporation reported its first-quarter 2025 earnings. The company achieved an adjusted diluted earnings per share (EPS) of $0.73, slightly above the consensus estimate of $0.72. However, Albany International’s revenue for the quarter fell short, coming in at $289 million compared to the expected $300.67 million. In leadership changes, the company announced the appointment of Willard Station as Executive Vice President and Chief Financial Officer, effective September 1, 2025. Station will replace Jairaj Chetnani, who has been serving as interim CFO since May 23, 2025. Additionally, Albany International has named Sean Valashinas as Vice President – Controller and Principal Accounting Officer, effective June 9, 2025. Valashinas brings extensive experience from his previous roles at Resonetics and Standex International (NYSE:SXI) Corporation. These developments follow the resignation of former CFO Robert Starr, who left the company to pursue other opportunities.
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