Castle Brands (NYSEAMERICAN:ROX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.

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 a number of other reports. TheStreet raised Castle Brands from a “d+” rating to a “c-” rating in a report on Tuesday, November 28th. Barrington Research boosted their price objective on Castle Brands from $1.80 to $2.00 and gave the stock an “outperform” rating in a report on Tuesday, October 3rd.

Shares of Castle Brands (NYSEAMERICAN:ROX) opened at $1.28 on Wednesday. Castle Brands has a twelve month low of $0.65 and a twelve month high of $2.22.

Several hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings 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 valued at $106,000 after acquiring an additional 15,007 shares in the last quarter. Rhumbline Advisers bought a new position in shares of Castle Brands in the second quarter valued at approximately $141,000. Manatuck Hill Partners LLC grew its holdings in shares of Castle Brands by 15.4% in the second quarter. Manatuck Hill Partners LLC now owns 750,000 shares of the company’s stock valued at $1,290,000 after acquiring an additional 100,000 shares in the last quarter. Schwab Charles Investment Management Inc. bought a new position in shares of Castle Brands in the second quarter valued at approximately $256,000. Finally, California State Teachers Retirement System bought a new position in shares of Castle Brands in the second quarter valued at approximately $265,000.

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Castle Brands Company Profile

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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