Zacks Investment Research Lowers Castle Brands (NYSEAMERICAN:ROX) to Hold

Zacks Investment Research lowered shares of Castle Brands (NYSEAMERICAN:ROX) from a buy rating to a hold rating in a report published on Tuesday, Zacks.com 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 analysts also recently weighed in on ROX. Barrington Research reaffirmed a buy rating and issued a $1.35 target price on shares of Castle Brands in a report on Wednesday, June 19th. Maxim Group reaffirmed a hold rating on shares of Castle Brands in a report on Wednesday, June 19th. Finally, TheStreet raised shares of Castle Brands from a d rating to a c- rating in a report on Wednesday, June 26th.

Shares of NYSEAMERICAN:ROX opened at $0.52 on Tuesday. Castle Brands has a 12 month low of $0.44 and a 12 month high of $1.17.

Castle Brands (NYSEAMERICAN:ROX) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.01) earnings per share (EPS) for the quarter. The business had revenue of $22.64 million for the quarter, compared to the consensus estimate of $22.87 million.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in shares of Castle Brands in the first quarter valued at approximately $32,000. FNY Investment Advisers LLC acquired a new position in shares of Castle Brands in the first quarter valued at approximately $40,000. SG Americas Securities LLC raised its position in shares of Castle Brands by 226.4% in the first quarter. SG Americas Securities LLC now owns 151,256 shares of the company’s stock valued at $105,000 after buying an additional 104,909 shares during the last quarter. Paloma Partners Management Co acquired a new position in shares of Castle Brands in the second quarter valued at approximately $152,000. Finally, Jane Street Group LLC acquired a new position in shares of Castle Brands in the second quarter valued at approximately $244,000.

Castle Brands Company Profile

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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