Castle Brands (ROX) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Castle Brands (NYSEAMERICAN:ROX) from a strong sell rating to a hold rating in a report released on Tuesday morning, reports.

According to Zacks, “CASTLE BRANDS INC., is an emerging developer and international marketer of premium branded spirits within five growing categories of the spirits industry: vodka, rum, tequila, whiskey and liqueurs/cordials. Castle Brands’ portfolio includes Boru Vodka, Gosling’s Rum, Sea Wynde Rum, Tierras Tequila, Knappogue Castle Whiskey, Clontarf Irish Whiskey, Jefferson’s and Jefferson’s Reserve Bourbon, Sam Houston Bourbon, Celtic Crossing Liqueur, Pallini Limoncello, Raspicello and Peachcello and Brady’s Irish Cream. “

Several other equities analysts have also recently weighed in on ROX. Maxim Group started coverage on Castle Brands in a report on Wednesday, January 16th. They issued a hold rating for the company. Barrington Research set a $2.00 price target on Castle Brands and gave the company a buy rating in a research note on Friday, January 18th. Finally, TheStreet lowered Castle Brands from a c- rating to a d rating in a research note on Tuesday, February 19th.

Shares of NYSEAMERICAN ROX opened at $0.64 on Tuesday. Castle Brands has a fifty-two week low of $0.63 and a fifty-two week high of $1.42.

Castle Brands (NYSEAMERICAN:ROX) last announced its quarterly earnings data on Friday, February 8th. The company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.02). The business had revenue of $22.54 million during the quarter, compared to analysts’ expectations of $26.20 million.

Institutional investors and hedge funds have recently modified their holdings of the company. Bristlecone Advisors LLC bought a new stake in Castle Brands during the 4th quarter worth $31,000. Virtu Financial LLC bought a new stake in Castle Brands during the 1st quarter worth $32,000. SG Americas Securities LLC bought a new stake in Castle Brands during the 4th quarter worth $39,000. Citadel Advisors LLC bought a new stake in Castle Brands during the 3rd quarter worth $104,000. Finally, Rhumbline Advisers grew its position in Castle Brands by 49.0% during the 4th quarter. Rhumbline Advisers now owns 113,675 shares of the company’s stock worth $97,000 after acquiring an additional 37,400 shares during the last quarter.

About Castle Brands

Castle Brands Inc, together with its subsidiaries, develops, markets, imports, and sells beverage alcohol and non-alcoholic beverage products in the United States, Canada, Europe, and Asia. The company offers premium and super premium rums, whiskey, liqueurs, vodka, tequila, wine, amaretto, and other spirits, as well as ginger beer and ready-to-drink cocktails.

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