Castle Brands (NYSEAMERICAN:ROX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday, March 17th. The brokerage currently has a $1.50 price objective on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 20.00% from the company’s current price.
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 have also weighed in on ROX. TheStreet upgraded shares of Castle Brands from a “d+” rating to a “c-” rating in a research report on Tuesday, November 28th. Roth Capital started coverage on shares of Castle Brands in a research report on Thursday, February 1st. They set a “buy” rating and a $2.60 target price on the stock.
Shares of Castle Brands stock traded down $0.03 during trading on Friday, reaching $1.25. The company’s stock had a trading volume of 215,185 shares, compared to its average volume of 356,813. Castle Brands has a fifty-two week low of $0.98 and a fifty-two week high of $2.22.
Castle Brands (NYSEAMERICAN:ROX) last announced its earnings results on Thursday, February 8th. The company reported $0.00 EPS 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 analysts’ expectations of $20.51 million.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN raised its stake in shares of Castle Brands by 196.9% during the 4th quarter. Wells Fargo & Company MN now owns 120,546 shares of the company’s stock worth $147,000 after buying an additional 79,948 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Castle Brands by 125.6% during the 4th quarter. Deutsche Bank AG now owns 195,596 shares of the company’s stock worth $237,000 after buying an additional 108,907 shares during the last quarter. California State Teachers Retirement System acquired a new position in shares of Castle Brands during the 2nd quarter worth $265,000. Teachers Advisors LLC acquired a new position in shares of Castle Brands during the 2nd quarter worth $266,000. Finally, TIAA CREF Investment Management LLC acquired a new position in shares of Castle Brands during the 2nd quarter worth $401,000.
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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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