Jerash Holdings (US) (NASDAQ:JRSH) Stock Gets Price Target Bump from DA Davidson

Jerash Holdings (US) (NASDAQ:JRSH) had its price objective hoisted by equities researchers at DA Davidson from $6.00 to $10.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. DA Davidson‘s price objective would indicate a potential upside of 28.12% from the company’s previous close.

Separately, Weiss Ratings raised Jerash Holdings (US) from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 14th. Two research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $10.00.

Jerash Holdings (US) Stock Performance

JRSH stock traded up $0.26 during trading on Wednesday, hitting $7.80. 292,259 shares of the company’s stock traded hands, compared to its average volume of 294,119. The stock has a market capitalization of $99.12 million, a price-to-earnings ratio of 20.54 and a beta of 1.03. The stock has a fifty day moving average price of $5.89 and a two-hundred day moving average price of $4.33. Jerash Holdings has a 52 week low of $2.85 and a 52 week high of $7.90. The company has a quick ratio of 1.64, a current ratio of 3.11 and a debt-to-equity ratio of 0.04.

Jerash Holdings (US) (NASDAQ:JRSH) last announced its quarterly earnings results on Tuesday, November 10th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.08. Jerash Holdings (US) had a net margin of 2.77% and a return on equity of 7.61%. The company had revenue of $50.29 million during the quarter, compared to the consensus estimate of $49.95 million.

Hedge Funds Weigh In On Jerash Holdings (US)

Several hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC raised its position in shares of Jerash Holdings (US) by 50.9% in the first quarter. Renaissance Technologies LLC now owns 272,240 shares of the company’s stock valued at $787,000 after purchasing an additional 91,816 shares during the period. BlackRock Inc. acquired a new stake in shares of Jerash Holdings (US) during the 2nd quarter worth approximately $112,000. Two Sigma Securities LLC acquired a new stake in Jerash Holdings (US) during the second quarter worth $95,000. Finally, NewEdge Advisors LLC bought a new stake in Jerash Holdings (US) in the first quarter valued at about $48,000. 3.39% of the stock is owned by institutional investors and hedge funds.

About Jerash Holdings (US)

Jerash Holdings (US), Inc. is an apparel manufacturer and exporter that produces garments for international customers and branded clothing companies. Its product range includes jackets, shirts, pants, activewear, outerwear and other woven and knit apparel. The company manufactures its products through operations in Jordan, including facilities located in the Al-Hassan Industrial Estate. Its Jordanian production platform supports cutting, sewing, finishing, packaging and related garment-manufacturing activities, allowing Jerash to supply finished products to customers in global markets.