Maxim Group analyst Anthony Vendetti maintained a Hold rating on Castle Brands (ROX) yesterday. The company’s shares opened today at $0.56, close to its 52-week low of $0.45.
Vendetti observed:
“2019, ROX reported better-than-expected F4Q19 (Mar) results due to a significant adjustment to deferred tax assets. On a year-over-year basis, sales of whiskey and ginger beer continue to grow albeit at a slower pace. ROX continues to show negative cash flows from operations and increasing high-interest debt on its balance sheet. We revised our estimates and maintain our Hold rating.”
According to TipRanks.com, Vendetti is a 3-star analyst with an average return of 2.4% and a 45.9% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Restoration Robotics Inc, Xtant Medical Holdings, and Ra Medical Systems Inc.
Castle Brands has an analyst consensus of Moderate Buy, with a price target consensus of $1.35.
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Based on Castle Brands’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $8.75 million. In comparison, last year the company had a GAAP net loss of $336.4K.
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Castle Brands, Inc. engages in the development, marketing, and sale of premium and super premium brands of beverage alcohol. Its product categories include rum, whiskeys, liqueurs, vodka, and ginger beer. The company was founded by Mark Edwin Andrews III in 1998 and is headquartered in New York, NY.
