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

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

ROX stock opened at $0.52 on Tuesday. Castle Brands has a fifty-two week low of $0.44 and a fifty-two week high of $1.17.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Castle Brands by 0.3% in the 4th quarter. BlackRock Inc. now owns 4,742,901 shares of the company’s stock valued at $4,034,000 after buying an additional 13,072 shares in the last quarter. Geode Capital Management LLC grew its position in Castle Brands by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 854,698 shares of the company’s stock valued at $726,000 after buying an additional 35,559 shares in the last quarter. Virtu Financial LLC bought a new position in Castle Brands in the 1st quarter valued at about $32,000. FNY Investment Advisers LLC bought a new position in Castle Brands in the 1st quarter valued at about $40,000. Finally, SG Americas Securities LLC boosted its position in shares of Castle Brands by 226.4% during the 1st quarter. SG Americas Securities LLC now owns 151,256 shares of the company’s stock valued at $105,000 after purchasing an additional 104,909 shares in the last quarter.

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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