Castle Brands (NYSEAMERICAN:ROX) Rating Lowered to Hold at Zacks Investment Research

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Zacks Investment Research cut shares of Castle Brands (NYSEAMERICAN:ROX) from a buy rating to a hold rating in a research note issued to investors 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. “

A number of other equities analysts also recently commented on ROX. Maxim Group restated a hold rating on shares of Castle Brands in a research note on Wednesday, June 19th. TheStreet upgraded Castle Brands from a d rating to a c- rating in a research note on Wednesday, June 26th. Finally, Barrington Research restated a buy rating and issued a $1.35 target price on shares of Castle Brands in a research note on Wednesday, June 19th.

Shares of ROX stock opened at $0.54 on Tuesday. Castle Brands has a 52 week low of $0.44 and a 52 week high of $1.17.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in shares of Castle Brands during the first quarter valued at approximately $32,000. FNY Investment Advisers LLC bought a new stake in shares of Castle Brands during the first quarter valued at approximately $40,000. SG Americas Securities LLC raised its holdings in shares of Castle Brands by 226.4% during 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 bought a new stake in shares of Castle Brands during the second quarter valued at approximately $152,000. Finally, Jane Street Group LLC bought a new stake in shares of Castle Brands during the second quarter valued at approximately $244,000.

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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