Castle Brands Inc (NYSE:ROX) had its price objective boosted by equities research analysts at Barrington Research from $1.80 to $2.00 in a report released on Tuesday. The brokerage currently has an “outperform” rating on the stock. Barrington Research’s target price indicates a potential upside of 45.99% from the company’s current price.

Separately, Zacks Investment Research cut Castle Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th.

Shares of Castle Brands (ROX) opened at 1.37 on Tuesday. The firm’s market cap is $225.10 million. Castle Brands has a 52 week low of $0.65 and a 52 week high of $2.22. The stock has a 50 day moving average of $1.40 and a 200 day moving average of $1.65.

Castle Brands (NYSE:ROX) last posted its quarterly earnings results on Wednesday, August 9th. The company reported ($0.01) earnings per share for the quarter. Castle Brands had a negative net margin of 4.15% and a negative return on equity of 201.80%. The business had revenue of $20.85 million during the quarter, compared to the consensus estimate of $18.18 million. Equities analysts forecast that Castle Brands will post $0.01 earnings per share for the current year.

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A number of institutional investors and hedge funds have recently bought and sold shares of ROX. State Street Corp bought a new stake in Castle Brands in the 2nd quarter valued at $1,669,000. Vanguard Group Inc. raised its stake in Castle Brands by 30.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,841,633 shares of the company’s stock valued at $6,608,000 after acquiring an additional 889,189 shares during the period. Northern Trust Corp raised its stake in Castle Brands by 501.7% in the 2nd quarter. Northern Trust Corp now owns 973,335 shares of the company’s stock valued at $1,674,000 after acquiring an additional 811,570 shares during the period. EAM Investors LLC raised its stake in Castle Brands by 89.1% in the 2nd quarter. EAM Investors LLC now owns 772,792 shares of the company’s stock valued at $1,329,000 after acquiring an additional 364,209 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Castle Brands by 245.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 390,787 shares of the company’s stock valued at $606,000 after acquiring an additional 277,822 shares during the period.

About Castle Brands

Castle Brands Inc develops and markets premium and super premium brands in the beverage alcohol categories. The Company is engaged in the sale of premium beverage alcohol. Its beverage alcohol categories include rum, whiskey, liqueurs, vodka and tequila. Its brands include Gosling’s rum, Gosling’s Stormy Ginger Beer, Gosling’s Dark ‘n Stormy ready-to-drink cocktail, Jefferson’s bourbon, Jefferson’s Reserve, Jefferson’s Ocean Aged at Sea, Jefferson’s Wine Finish Collection, Jefferson’s The Manhattan: Barrel Finished Cocktail, Jefferson’s Chef’s Collaboration, Jefferson’s Wood Experiment, Jefferson’s Presidential Select, Jefferson’s Rye whiskey, Pallini liqueurs, Clontarf Irish whiskey, Knappogue Castle Whiskey, Brady’s Irish Cream, Boru vodka, Tierras tequila, Celtic Honey liqueur and Gozio amaretto.

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