Castle Brands (ROX) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of Castle Brands (NYSEAMERICAN:ROX) from a buy rating to a hold rating in a research note released on Thursday morning.

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, Roth Capital started coverage on shares of Castle Brands in a report on Thursday, February 1st. They issued a buy rating and a $2.60 price target on the stock.



Castle Brands stock traded down $0.01 during trading hours on Thursday, hitting $1.24. The company had a trading volume of 37,926 shares, compared to its average volume of 338,702. Castle Brands has a one year low of $0.98 and a one year high of $2.22.

Castle Brands (NYSEAMERICAN:ROX) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.00 earnings per share for the quarter. The firm had revenue of $24.08 million for the quarter, compared to analysts’ expectations of $20.51 million. Castle Brands had a net margin of 2.76% and a return on equity of 55.84%.

Several institutional investors and hedge funds have recently made changes to their positions in ROX. Wells Fargo & Company MN increased its holdings in shares of Castle Brands by 196.9% during the fourth quarter. Wells Fargo & Company MN now owns 120,546 shares of the company’s stock worth $147,000 after purchasing an additional 79,948 shares during the period. Deutsche Bank AG increased 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 period. California State Teachers Retirement System bought a new position in shares of Castle Brands during the second quarter worth approximately $265,000. Millennium Management LLC increased 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 period. Finally, State Street Corp bought a new position in shares of Castle Brands during the second quarter worth approximately $1,669,000.

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Castle Brands Company Profile

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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