Zacks Investment Research lowered shares of Castle Brands (NYSEAMERICAN:ROX) from a buy rating to a hold rating in a research report report published on Tuesday, March 20th.
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. “
ROX has been the subject of a number of other reports. TheStreet upgraded Castle Brands from a d+ rating to a c- rating in a report on Tuesday, November 28th. Roth Capital began coverage on Castle Brands in a report on Thursday, February 1st. They set a buy rating and a $2.60 price target for the company.
ROX remained flat at $$1.25 on Tuesday. The company had a trading volume of 49,286 shares, compared to its average volume of 343,000. Castle Brands has a 12-month low of $0.98 and a 12-month high of $2.22.
Castle Brands (NYSEAMERICAN:ROX) last posted its earnings results on Thursday, February 8th. The company reported $0.00 earnings per share for the quarter. Castle Brands had a return on equity of 55.84% and a net margin of 2.76%. The firm had revenue of $24.08 million during the quarter, compared to analyst estimates of $20.51 million.
A number of large investors have recently made changes to their positions in the business. BlackRock Inc. grew its position in Castle Brands by 1.2% in the fourth quarter. BlackRock Inc. now owns 3,968,101 shares of the company’s stock valued at $4,841,000 after acquiring an additional 48,552 shares during the period. Wells Fargo & Company MN grew its position in Castle Brands by 196.9% in the fourth quarter. Wells Fargo & Company MN now owns 120,546 shares of the company’s stock valued at $147,000 after acquiring an additional 79,948 shares during the period. Deutsche Bank AG grew its holdings in shares of Castle Brands by 125.6% during the fourth quarter. Deutsche Bank AG now owns 195,596 shares of the company’s stock worth $237,000 after purchasing an additional 108,907 shares during the last quarter. California State Teachers Retirement System bought a new stake in shares of Castle Brands during the second quarter worth $265,000. Finally, Millennium Management LLC grew its holdings in shares of Castle Brands by 18.2% during the fourth quarter. Millennium Management LLC now owns 1,175,600 shares of the company’s stock worth $1,434,000 after purchasing an additional 181,253 shares during the last quarter.
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About Castle Brands
Castle Brands Inc develops, markets, imports, and sells beverage alcohol and non-alcoholic beverage products in the United States and internationally. Its product categories include rum, whiskey, liqueurs, vodka, tequila, wine, and other spirits, as well as ginger beer and ready-to-drink cocktails. The company offers its products under the Goslings rum, Goslings Stormy Ginger Beer, Goslings Dark ?n Stormy, Jefferson's, Jefferson's Reserve, Jefferson's Ocean Aged at Sea, Jefferson's Wine Finish Collection, Jefferson's The Manhattan, Jefferson's Chef's Collaboration, Jefferson's Wood Experiment, Jefferson's Presidential Select, Jefferson's Straight Rye, Pallini, Clontarf, Knappogue Castle Whiskey, Brady's, Boru, Tierras, Celtic Honey, Gozio, The Arran Malt, The Robert Burns, and Machrie Moor brands through a network of wholesale distributors and state-operated agencies.
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