Amira Nature Foods (ANFI) Upgraded to Buy by Zacks Investment Research

Amira Nature Foods (NYSE:ANFI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $4.50 price target on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 10.02% from the stock’s previous close.

According to Zacks, “Amira Nature Foods Ltd. provides packaged Indian specialty rice. The Company sells Basmati rice, premium long-grain rice under their flagship Amira brand as well as under other third party brands. It participates across the entire rice supply chain from the procurement of paddy to its storage, aging, processing into rice, packaging, distribution and marketing. Amira Nature Foods Ltd. is headquartered in Dubai, United Arab Emirates. “

Separately, Jefferies Group set a $8.00 target price on Amira Nature Foods and gave the stock a “buy” rating in a research report on Sunday, October 29th.

Shares of Amira Nature Foods (NYSE ANFI) traded down $0.06 during trading on Thursday, hitting $4.09. The stock had a trading volume of 92,800 shares, compared to its average volume of 163,343. The firm has a market capitalization of $168.47, a price-to-earnings ratio of 4.81 and a beta of -0.26. Amira Nature Foods has a 12 month low of $4.02 and a 12 month high of $7.05.

Hedge funds have recently modified their holdings of the company. Ameriprise Financial Inc. grew its holdings in shares of Amira Nature Foods by 30.1% during the second quarter. Ameriprise Financial Inc. now owns 102,130 shares of the company’s stock valued at $566,000 after buying an additional 23,630 shares in the last quarter. GSA Capital Partners LLP grew its holdings in shares of Amira Nature Foods by 104.2% during the second quarter. GSA Capital Partners LLP now owns 36,836 shares of the company’s stock valued at $204,000 after buying an additional 18,800 shares in the last quarter. Nationwide Fund Advisors purchased a new position in shares of Amira Nature Foods during the third quarter valued at $182,000. Finally, Wells Fargo & Company MN purchased a new position in shares of Amira Nature Foods during the third quarter valued at $210,000. Institutional investors and hedge funds own 13.01% of the company’s stock.

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About Amira Nature Foods

Amira Nature Foods Ltd is primarily engaged in the business of processing and selling packaged Indian specialty rice, primarily basmati rice and other food products. The Company sells Basmati rice and other specialty rice, under its Amira brand, as well as under other third-party brands. It also sells non-basmati rice.

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