Jerash Holdings (US) (NASDAQ:JRSH) Stock Falls 2.9% – Here’s Why

Jerash Holdings (US), Inc. (NASDAQ:JRSH)’s stock price fell 2.9% during trading on Monday. The stock traded as low as $5.87 and last traded at $5.95. 85,312 shares changed hands during mid-day trading, a decline of 15% from the average daily volume of 99,897 shares. The stock had previously closed at $6.13.

Analysts Set New Price Targets

A number of analysts recently weighed in on JRSH shares. Weiss Ratings raised shares of Jerash Holdings (US) from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 14th. Wall Street Zen raised Jerash Holdings (US) from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 28th. Finally, DA Davidson increased their price target on Jerash Holdings (US) from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Two investment analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $6.00.

Jerash Holdings (US) Trading Down 2.9%

The firm has a 50-day moving average of $5.75 and a two-hundred day moving average of $4.16. The company has a current ratio of 3.11, a quick ratio of 1.64 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $75.56 million, a P/E ratio of 15.66 and a beta of 1.00.

Jerash Holdings (US) (NASDAQ:JRSH) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. The business had revenue of $50.23 million during the quarter, compared to the consensus estimate of $47.90 million. Jerash Holdings (US) had a net margin of 2.77% and a return on equity of 7.61%.

Jerash Holdings (US) Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, August 17th. Jerash Holdings (US)’s dividend payout ratio (DPR) is currently 52.63%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in JRSH. Renaissance Technologies LLC increased its position in Jerash Holdings (US) by 50.9% in the 1st quarter. Renaissance Technologies LLC now owns 272,240 shares of the company’s stock valued at $787,000 after buying an additional 91,816 shares in the last quarter. BlackRock Inc. bought a new stake in Jerash Holdings (US) during the second quarter worth $112,000. NewEdge Advisors LLC raised its position in Jerash Holdings (US) by 19.0% in the second quarter. NewEdge Advisors LLC now owns 19,665 shares of the company’s stock worth $95,000 after acquiring an additional 3,146 shares during the period. Finally, Two Sigma Securities LLC purchased a new position in Jerash Holdings (US) in the second quarter valued at approximately $95,000. 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.

Jerash Holdings serves apparel brands and retailers primarily in North America and other international markets.