Zacks: Brokerages Set $9.50 Target Price for Jerash Holdings (US) Inc (JRSH)

Jerash Holdings (US) Inc (NASDAQ:JRSH) has received an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.

Brokers have set a 12 month consensus price target of $9.50 for the company and are anticipating that the company will post $0.05 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Jerash Holdings (US) an industry rank of 103 out of 256 based on the ratings given to its competitors.

Several brokerages have weighed in on JRSH. DA Davidson began coverage on Jerash Holdings (US) in a research note on Wednesday, April 17th. They set a “buy” rating and a $9.00 target price on the stock. ValuEngine downgraded Jerash Holdings (US) from a “hold” rating to a “sell” rating in a research note on Tuesday, May 7th. Finally, Roth Capital began coverage on Jerash Holdings (US) in a research note on Monday, February 25th. They set a “buy” rating and a $10.00 target price on the stock.

Institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC raised its stake in shares of Jerash Holdings (US) by 123.7% in the 1st quarter. Acadian Asset Management LLC now owns 5,362 shares of the company’s stock worth $40,000 after buying an additional 2,965 shares in the last quarter. Vanguard Group Inc bought a new stake in shares of Jerash Holdings (US) in the 3rd quarter worth $215,000. Vanguard Group Inc. bought a new stake in shares of Jerash Holdings (US) in the 3rd quarter worth $215,000. Perritt Capital Management Inc. bought a new stake in shares of Jerash Holdings (US) in the 4th quarter worth $305,000. Finally, Royce & Associates LP raised its stake in shares of Jerash Holdings (US) by 181.3% in the 4th quarter. Royce & Associates LP now owns 113,467 shares of the company’s stock worth $664,000 after buying an additional 73,133 shares in the last quarter. 3.40% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Jerash Holdings (US) stock opened at $7.04 on Tuesday. Jerash Holdings has a 1-year low of $4.77 and a 1-year high of $10.39.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 28th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Friday, May 24th.

Jerash Holdings (US) Company Profile

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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