DA Davidson Forecasts Strong Price Appreciation for Jerash Holdings (US) (NASDAQ:JRSH) Stock

Jerash Holdings (US) (NASDAQ:JRSH) had its price target lifted by research analysts at DA Davidson from $6.00 to $10.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson‘s price target suggests a potential upside of 28.12% from the stock’s current price.

Separately, Weiss Ratings upgraded shares of Jerash Holdings (US) from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 14th. Two research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $10.00.

Jerash Holdings (US) Stock Performance

NASDAQ JRSH traded up $0.26 during trading hours on Wednesday, hitting $7.80. The company had a trading volume of 292,259 shares, compared to its average volume of 294,119. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.64 and a current ratio of 3.11. Jerash Holdings has a 1-year low of $2.85 and a 1-year high of $7.90. The company has a market cap of $99.12 million, a PE ratio of 20.54 and a beta of 1.03. The business has a 50 day moving average of $5.89 and a 200-day moving average of $4.33.

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

Institutional Investors Weigh In On Jerash Holdings (US)

Hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC boosted its stake in shares of Jerash Holdings (US) by 19.0% in the second quarter. NewEdge Advisors LLC now owns 19,665 shares of the company’s stock valued at $95,000 after buying an additional 3,146 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in shares of Jerash Holdings (US) in the second quarter valued at $95,000. BlackRock Inc. acquired a new stake in shares of Jerash Holdings (US) during the 2nd quarter worth about $112,000. Finally, Renaissance Technologies LLC grew its stake in Jerash Holdings (US) by 50.9% in the 1st quarter. Renaissance Technologies LLC now owns 272,240 shares of the company’s stock worth $787,000 after acquiring an additional 91,816 shares during the period. 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.