Jerash Holdings Reports Quarterly Financial Results and Receives Analyst Price Target Increase

Jerash Holdings reported quarterly revenue of $50.2 million, up 27% year over year, and net income of $1.7 million, with a gross margin of 16%. Management attributed the results to improved manufacturing efficiency and higher shipment volumes to the United States. DA Davidson maintained its buy rating and raised its price target from $5.00 to $6.00 per share.