Castle Brands Inc (ROX) Stock Rating Lowered by Zacks Investment Research
Castle Brands Inc (NYSE:ROX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
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. “
Separately, Barrington Research boosted their price target on shares of Castle Brands from $1.80 to $2.00 and gave the company an “outperform” rating in a report on Tuesday, October 3rd.
Shares of Castle Brands (ROX) opened at 1.37 on Friday. Castle Brands has a 12 month low of $0.65 and a 12 month high of $2.22. The firm’s market cap is $225.10 million. The stock has a 50 day moving average price of $1.39 and a 200 day moving average price of $1.65.
Castle Brands (NYSE:ROX) last announced its quarterly earnings results on Wednesday, August 9th. The company reported ($0.01) earnings per share (EPS) for the quarter. Castle Brands had a negative net margin of 4.15% and a negative return on equity of 201.80%. The firm had revenue of $20.85 million during the quarter, compared to analyst estimates of $18.18 million. On average, equities research analysts expect that Castle Brands will post $0.01 EPS for the current year.
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Several hedge funds have recently made changes to their positions in ROX. State Street Corp acquired a new position in shares of Castle Brands in the 2nd quarter valued at $1,669,000. Vanguard Group Inc. grew its holdings in shares of Castle Brands by 30.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,841,633 shares of the company’s stock valued at $6,608,000 after buying an additional 889,189 shares during the period. Northern Trust Corp grew its holdings in shares of Castle Brands by 501.7% in the 2nd quarter. Northern Trust Corp now owns 973,335 shares of the company’s stock valued at $1,674,000 after buying an additional 811,570 shares during the period. EAM Investors LLC grew its holdings in shares of Castle Brands by 89.1% in the 2nd quarter. EAM Investors LLC now owns 772,792 shares of the company’s stock valued at $1,329,000 after buying an additional 364,209 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Castle Brands by 245.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 390,787 shares of the company’s stock valued at $606,000 after buying an additional 277,822 shares during the period.
Castle Brands Company Profile
Castle Brands Inc develops and markets premium and super premium brands in the beverage alcohol categories. The Company is engaged in the sale of premium beverage alcohol. Its beverage alcohol categories include rum, whiskey, liqueurs, vodka and tequila. Its brands include Gosling’s rum, Gosling’s Stormy Ginger Beer, Gosling’s Dark ‘n Stormy ready-to-drink cocktail, Jefferson’s bourbon, Jefferson’s Reserve, Jefferson’s Ocean Aged at Sea, Jefferson’s Wine Finish Collection, Jefferson’s The Manhattan: Barrel Finished Cocktail, Jefferson’s Chef’s Collaboration, Jefferson’s Wood Experiment, Jefferson’s Presidential Select, Jefferson’s Rye whiskey, Pallini liqueurs, Clontarf Irish whiskey, Knappogue Castle Whiskey, Brady’s Irish Cream, Boru vodka, Tierras tequila, Celtic Honey liqueur and Gozio amaretto.
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