In a report released today, Christopher Howe from Barrington maintained a Buy rating on Castle Brands (ROX), with a price target of $1.75. The company’s shares opened today at $0.89.
Howe noted:
“We expect that cash from operations should improve over time as depletions increase and the company sells through bourbon inventory from purchased and new fill sources. Castle Brands maintains U.S. federal NOL carry‐forwards of $81 million at the end of the second quarter, with foreign NOLs of approximately $14 million.”
According to TipRanks.com, Howe is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -15.8% and a 24.1% 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 $1.75.
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Based on Castle Brands’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $216.1K. In comparison, last year the company had a net profit of $465.6K.
Based on the recent corporate insider activity of 42 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, Steven D. Rubin, a Director at ROX bought 100,000 shares for a total of $23,000.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
