Barrington analyst Christopher Howe reiterated a Buy rating on Castle Brands (NYSE: ROX) today and set a price target of $2. The company’s shares opened today at $1.19.
Howe wrote:
“We believe the company should continue to deliver higher-than-industry average revenue growth and generate adjusted EBITDA margin expansion with increased sales leverage. Valuation remains attractive trading at 2.5x EV/Sales on NTM sales compared to the peer group average of 7.0x. We reiterate our OUTPERFORM investment rating and $2 price target.”
According to TipRanks.com, Howe is a 1-star analyst with an average return of -3.2% and a 10.0% success rate. Howe covers the Industrial Goods sector, focusing on stocks such as ASV Holdings Inc, Kadant Inc, and Woodward.
Castle Brands has an analyst consensus of Moderate Buy, with a price target consensus of $2.
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The company has a one-year high of $1.67 and a one-year low of $0.98. Currently, Castle Brands has an average volume of 240.5K.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ROX in relation to earlier this year. Earlier this month, Richard Lampen, the President & CEO of ROX bought 300,000 shares for a total of $105,000.
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Castle Brands, Inc. is engaged in the importation, marketing and sale of premium and super premium brands of rums, whiskey, liqueurs, vodka and tequila in the United States, Canada, Europe and Asia. It offers premium brands in beverage alcohol categories: rum, whiskey, liqueurs, vodka, tequila, and wine.
