Amira Nature Gets a Buy Rating from Jefferies

Jefferies analyst Akshay Jagdale reiterated a Buy rating on Amira Nature (NYSE: ANFI) today and set a price target of $6. The company’s shares closed yesterday at $1.65, close to its 52-week low of $1.62.

Jagdale observed:

“Since yesterday morning, ANFI’s competitor (KRBL) reported March quarter results and ANFI positively surprised us by reporting December quarter results. ANFI’s Dec quarter results were generally in line but more importantly showed continued sequential acceleration in rev & EBITDA growth. We view both data points as incrementally positive. The stock is trading well below intrinsic value, which we view as a great buying opportunity. Reiterating Buy & $6 PT. ANFI’s 1Q results were generally in line but showed a sequential acceleration in revenue & EBITDA growth, which points to improving industry operating conditions. ANFI surprised us by reporting December quarter results today. Recall the company had been reporting 6M results prior to that. As such, the move to quarterly reporting is encouraging.”

According to TipRanks.com, Jagdale is a 4-star analyst with an average return of 5.1% and a 54.1% success rate. Jagdale covers the Consumer Goods sector, focusing on stocks such as Lamb Weston Holdings, McCormick & Company, and J & J Snack Foods.

Amira Nature has an analyst consensus of Moderate Buy, with a price target consensus of $6.

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Amira Nature’s market cap is currently $54.89M and has a P/E ratio of 1.92. The company has a Price to Book ratio of 0.19.

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Amira Nature Foods Ltd. engages in the processing, distributing, and marketing of packaged Indian specialty rice, and basmati rice. It offers products among international buyers and distributors and retail chains in India. The company was founded in 1915 and is headquartered in Dubai, the United Arab Emirates.