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 target price on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 10.02% from the company’s current price.

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 company a “buy” rating in a research note on Sunday, October 29th.

Shares of Amira Nature Foods (ANFI) traded down $0.06 during midday trading on Thursday, reaching $4.09. The company’s stock had a trading volume of 92,800 shares, compared to its average volume of 163,343. Amira Nature Foods has a 1 year low of $4.02 and a 1 year high of $7.05. The stock has a market capitalization of $168.47, a P/E ratio of 4.81 and a beta of -0.26.

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