Zacks Investment Research cut shares of Castle Brands (NYSEAMERICAN:ROX) from a buy rating to a hold rating in a research report released on Tuesday.
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 research firms have also weighed in on ROX. TheStreet raised shares of Castle Brands from a d+ rating to a c- rating in a research note on Tuesday, November 28th. Roth Capital began coverage on shares of Castle Brands in a research note on Thursday, February 1st. They set a buy rating and a $2.60 price objective on the stock.
Castle Brands (NYSEAMERICAN:ROX) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.00 earnings per share for the quarter. Castle Brands had a net margin of 2.76% and a return on equity of 55.84%. The business had revenue of $24.08 million for the quarter, compared to analyst estimates of $20.51 million.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake 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 buying an additional 48,552 shares in the last quarter. Wells Fargo & Company MN lifted its stake 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 buying an additional 79,948 shares in the last quarter. Deutsche Bank AG lifted its stake in Castle Brands by 125.6% in the fourth quarter. Deutsche Bank AG now owns 195,596 shares of the company’s stock valued at $237,000 after buying an additional 108,907 shares in the last quarter. California State Teachers Retirement System bought a new position in Castle Brands in the second quarter valued at approximately $265,000. Finally, Millennium Management LLC lifted its stake in Castle Brands by 18.2% in the fourth quarter. Millennium Management LLC now owns 1,175,600 shares of the company’s stock valued at $1,434,000 after buying an additional 181,253 shares in the last quarter.
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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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