Castle Brands Inc (NYSE:ROX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

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. “

Castle Brands (NYSE ROX) opened at 1.81 on Tuesday. Castle Brands has a one year low of $0.65 and a one year high of $2.22. The firm has a 50-day moving average price of $1.85 and a 200 day moving average price of $1.28. The company’s market cap is $295.25 million.

Castle Brands (NYSE:ROX) last posted its quarterly earnings data on Wednesday, June 14th. The company reported $0.00 earnings per share for the quarter. The business had revenue of $22.58 million for the quarter, compared to analysts’ expectations of $21.46 million. Castle Brands had a return on equity of 6.81% and a net margin of 3.10%. Equities analysts expect that Castle Brands will post $0.02 earnings per share for the current fiscal year.

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Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in shares of Castle Brands by 28.4% in the first quarter. Bank of New York Mellon Corp now owns 67,856 shares of the company’s stock worth $106,000 after buying an additional 15,007 shares in the last quarter. KCG Holdings Inc. boosted its stake in shares of Castle Brands by 521.1% in the first quarter. KCG Holdings Inc. now owns 179,607 shares of the company’s stock worth $278,000 after buying an additional 150,688 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Castle Brands by 245.9% in the first quarter. Goldman Sachs Group Inc. now owns 390,787 shares of the company’s stock worth $606,000 after buying an additional 277,822 shares in the last quarter. Finally, EAM Investors LLC bought a new stake in shares of Castle Brands during the first quarter worth approximately $633,000.

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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