Villa boss Paul Lambert revealed last week that there was a possibility Albrighton, yet to make a Premier League appearance this season, would be allowed to leave on loan as he bids to step up his match fitness.
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"I've been trying to bring a couple of players in to boost our squad and we will continue to pursue that in the next week," said Coyle.
"[Albrighton] is a very good player, he is a player I tried to sign at Bolton a few years ago but he's an Aston Villa player and, until Paul decides otherwise, then that's how it is.
"But we are always in the market for good players and he is certainly one of those."
Albrighton enjoyed a breakout year with the Villans in the 2010-11 season, scoring five goals in 29 appearances, but has struggled to get into the first team under Lambert.