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 report issued 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. “

ROX has been the subject of several other research reports. TheStreet upgraded Castle Brands from a d rating to a c- rating in a research report on Wednesday, June 26th. Barrington Research restated a buy rating and set a $1.35 target price on shares of Castle Brands in a research report on Wednesday, June 19th. Finally, Maxim Group restated a hold rating on shares of Castle Brands in a research report on Wednesday, June 19th.

ROX opened at $0.70 on Wednesday. Castle Brands has a 12 month low of $0.44 and a 12 month high of $1.17.

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

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC boosted its position in shares of Castle Brands by 226.4% during the first quarter. SG Americas Securities LLC now owns 151,256 shares of the company’s stock valued at $105,000 after buying an additional 104,909 shares during the period. Geode Capital Management LLC boosted its position in shares of Castle Brands by 4.3% during the fourth 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 during the period. Virtu Financial LLC purchased a new position in shares of Castle Brands during the first quarter valued at approximately $32,000. Jane Street Group LLC purchased a new position in shares of Castle Brands during the second quarter valued at approximately $244,000. Finally, Paloma Partners Management Co purchased a new position in shares of Castle Brands during the second quarter valued at approximately $152,000.

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.

Further Reading: Oversold

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