Castle Brands (NYSEAMERICAN:ROX) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Castle Brands (NYSEAMERICAN:ROX) from a sell rating to a hold rating in a research note issued to investors on Wednesday, 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 weighed in on ROX. TheStreet raised Castle Brands from a d rating to a c- rating in a research report on Wednesday, June 26th. Maxim Group reissued a hold rating on shares of Castle Brands in a research report on Wednesday, June 19th. Finally, Barrington Research reissued a buy rating and set a $1.35 price target on shares of Castle Brands in a research report on Wednesday, June 19th.

NYSEAMERICAN:ROX opened at $0.70 on Wednesday. Castle Brands has a 52-week low of $0.44 and a 52-week high of $1.17.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in ROX. Virtu Financial LLC acquired a new position in Castle Brands during the first quarter worth approximately $32,000. SG Americas Securities LLC increased its position in Castle Brands by 226.4% during the first quarter. SG Americas Securities LLC now owns 151,256 shares of the company’s stock worth $105,000 after buying an additional 104,909 shares during the last quarter. Paloma Partners Management Co acquired a new position in Castle Brands during the second quarter worth approximately $152,000. Jane Street Group LLC acquired a new position in Castle Brands during the second quarter worth approximately $244,000. Finally, Geode Capital Management LLC increased its position in Castle Brands by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 854,698 shares of the company’s stock worth $726,000 after buying an additional 35,559 shares during 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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