Zacks: Jerash Holdings (US) Inc (NASDAQ:JRSH) Given $9.50 Average Target Price by Brokerages

Shares of Jerash Holdings (US) Inc (NASDAQ:JRSH) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.

Brokerages have set a 1-year consensus price objective of $9.50 for the company and are forecasting that the company will post ($0.02) earnings per share for the current quarter, according to Zacks. Zacks has also given Jerash Holdings (US) an industry rank of 161 out of 256 based on the ratings given to its competitors.

JRSH has been the subject of a number of research reports. ValuEngine downgraded Jerash Holdings (US) from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th. DA Davidson began coverage on Jerash Holdings (US) in a report on Wednesday, April 17th. They issued a “buy” rating and a $9.00 price objective for the company. Finally, Zacks Investment Research lowered Jerash Holdings (US) from a “hold” rating to a “sell” rating in a report on Wednesday, June 5th.

Shares of Jerash Holdings (US) stock traded up $0.26 during trading on Thursday, hitting $7.29. 13,700 shares of the company’s stock were exchanged, compared to its average volume of 9,807. The firm’s 50-day simple moving average is $6.90. Jerash Holdings has a 52-week low of $4.77 and a 52-week high of $8.50.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 28th were issued a dividend of $0.05 per share. The ex-dividend date was Friday, May 24th. This represents a $0.20 annualized dividend and a dividend yield of 2.74%.

Several institutional investors and hedge funds have recently modified their holdings of JRSH. Vanguard Group Inc acquired a new position in shares of Jerash Holdings (US) in the 3rd quarter valued at $215,000. Vanguard Group Inc. acquired a new stake in Jerash Holdings (US) in the 3rd quarter valued at approximately $215,000. Perritt Capital Management Inc. acquired a new stake in Jerash Holdings (US) in the 4th quarter valued at approximately $305,000. Finally, Royce & Associates LP increased its holdings in Jerash Holdings (US) by 181.3% in the 4th quarter. Royce & Associates LP now owns 113,467 shares of the company’s stock valued at $664,000 after purchasing an additional 73,133 shares during the last quarter. Hedge funds and other institutional investors own 3.67% of the company’s stock.

About Jerash Holdings (US)

Jerash Holdings (US), Inc, through its subsidiaries, manufactures and exports customized and ready-made sports and outerwear. The company offers jackets, polo shirts, crew neck shirts, pants, and shorts made from knitted fabric. It serves various brand-name retailers in the United States, Jordan, and internationally.

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