In a report released today, Christopher Howe from Barrington maintained a Buy rating on Castle Brands (ROX), with a price target of $1.45. The company’s shares closed yesterday at $0.66, close to its 52-week low of $0.54.
Howe wrote:
“We reiterate our OUTPERFORM investment rating and price target of $1.45, which is based on a five-year-average EV/Sales multiple of approximately 3.2x. Brands Inc. develops and markets beverage alcohol brands. The company offers premium brands in the following beverage alcohol categories: rum, whiskey, liqueurs, vodka, tequila, as well as non- alcoholic ginger beer. It markets various brands including Stormy ginger beer, Select bourbons, Jefferson’s Rye whiskey, Clontarf Irish whiskey, Pallini liqueurs, Boru vodka, Honey liqueur. Castle Brand was founded in 1998, reincorporated in 2009 and is headquartered in New York, NY.”
According to TipRanks.com, Howe is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -8.8% and a 38.6% success rate. Howe covers the Industrial Goods sector, focusing on stocks such as ASV Holdings Inc, Kadant Inc, and Woodward.
The word on The Street in general, suggests a Hold analyst consensus rating for Castle Brands.
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Based on Castle Brands’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $2.18 million. In comparison, last year the company had a GAAP net loss of $336.4K.
Based on the recent corporate insider activity of 37 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.
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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.
