Jerash Holdings (US) (NASDAQ:JRSH) Stock Price Up 1.1% – Time to Buy?

Jerash Holdings (US), Inc. (NASDAQ:JRSH) shares shot up 1.1% during mid-day trading on Friday . The company traded as high as $3.55 and last traded at $3.53. 35,727 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 107,277 shares. The stock had previously closed at $3.49.

Analysts Set New Price Targets

A number of brokerages recently issued reports on JRSH. DA Davidson reiterated a “buy” rating and issued a $4.00 target price on shares of Jerash Holdings (US) in a report on Tuesday, February 10th. Weiss Ratings restated a “hold (c)” rating on shares of Jerash Holdings (US) in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4.00.

Jerash Holdings (US) Stock Performance

The firm has a 50 day simple moving average of $3.14 and a two-hundred day simple moving average of $3.15. The firm has a market capitalization of $44.83 million, a P/E ratio of 23.53 and a beta of 1.13.

Jerash Holdings (US) (NASDAQ:JRSH) last issued its quarterly earnings data on Monday, February 9th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.04. Jerash Holdings (US) had a return on equity of 2.86% and a net margin of 1.18%.The business had revenue of $41.77 million for the quarter, compared to analysts’ expectations of $42.30 million.

Jerash Holdings (US) Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 13th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, February 13th. This represents a $0.20 annualized dividend and a yield of 5.7%. Jerash Holdings (US)’s dividend payout ratio (DPR) is 133.33%.

Hedge Funds Weigh In On Jerash Holdings (US)

Several large investors have recently bought and sold shares of the stock. Virtu Financial LLC bought a new position in Jerash Holdings (US) during the 4th quarter valued at $32,000. State Street Corp increased its position in shares of Jerash Holdings (US) by 27.6% during the 4th quarter. State Street Corp now owns 21,705 shares of the company’s stock valued at $66,000 after purchasing an additional 4,700 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Jerash Holdings (US) during the 4th quarter valued at $48,000. Renaissance Technologies LLC increased its position in shares of Jerash Holdings (US) by 18.3% during the 4th quarter. Renaissance Technologies LLC now owns 180,424 shares of the company’s stock valued at $550,000 after purchasing an additional 27,954 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Jerash Holdings (US) by 7.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 97,495 shares of the company’s stock valued at $297,000 after purchasing an additional 6,597 shares during the last quarter. 3.39% of the stock is currently owned by institutional investors.

About Jerash Holdings (US)

Jerash Holdings (NASDAQ:JRSH) is a global designer, manufacturer and marketer of intimate apparel, sportswear and swimwear. Founded in 1994 in the Jerash special economic zone of Jordan, the company has built a vertically integrated production model that spans product design, raw material sourcing, fabric printing, sewing and finishing. By controlling each stage of the manufacturing process, Jerash maintains strict quality standards and achieves competitive lead times for its apparel collections.

Operating state-of-the-art facilities in Jordan with a workforce of more than 10,000 employees, Jerash produces both proprietary brands and private-label merchandise for major retailers.