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ROX

Castle Brands

$1.27

(0.00%)

11:04
10/09/19
10/09
11:04
10/09/19
11:04

Pernod Ricard completes acquisition of Castle Brands

Pernod Ricard and Castle Brands announced the successful completion of the acquisition of Castle Brands by a subsidiary of Pernod Ricard S.A.. As previously announced, Pernod Ricard, through one of its subsidiaries, offered to acquire all of the outstanding common stock of Castle Brands for $1.27 per share in cash, net of applicable withholding taxes and without interest. On October 9, the offeror merged with and into Castle Brands via a short-form merger. As a result of the tender offer and the merger, Castle Brands became an indirect wholly owned subsidiary of Pernod Ricard and Castle Brands' common stock will cease trading on the NYSE American.

ROX Castle Brands
$1.27

(0.00%)

01/17/19
01/17/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tencent Music (TME) initiated with an Overweight at JPMorgan. 2. Craft Brew (BREW) initiated with a Buy at Maxim while Castle Brands (ROX) was initiated with a Hold. 3. CVS Health (CVS) and LabCorp (LH) were initiated with a Buy at UBS while Walgreens Boots Alliance (WBA) was initiated with a Sell. 4. DTE Energy (DTE) initiated with a Buy at Goldman Sachs while CMS Energy (CMS) was initiated with a Neutral. 5. Zendesk (ZEN) and HubSpot (HUBS) were initiated with an Overweight at Stephens while Adobe (ADBE) was initiated with an Equal Weight. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/03/19
MAXM
05/03/19
INITIATION
MAXM
Hold
Castle Brands assumed with a Hold at Maxim
Maxim analyst Stephen Anderson assumed Castle Brands with a Hold rating, saying the company's revenue growth had been "robust" thanks to the popularity of its Jefferson's bourbon and higher distribution of its Goslings ginger beer. The analyst is concerned however that Goslings growth is decelerating in 2019, having lapped key distribution orders last year.
06/18/19
BRRR
06/18/19
NO CHANGE
BRRR
Castle Brands Q4 results beat expectations, says Barrington
Barrington analyst Chris Howe reiterated an Outperform rating on Castle Brands, but lowered his price target on shares to $1.35 from $1.45, after the company reported Q4 earnings that outperformed on both EBITDA and revenue. Howe said the valuation remains attractive and he expects the company to benefit from "lower-cost acquired bourbon and new fill reaching four years of age" over the next twelve months.
08/30/19
BRRR
08/30/19
DOWNGRADE
BRRR
Market Perform
Castle Brands downgraded to Market Perform from Outperform at Barrington
Barrington analyst Chris Howe downgraded Castle Brands to Market Perform from Outperform after the company entered into an agreement to be acquired by Pernod Ricard for $1.27 per share in cash. The analyst recommends shareholders take the offer.

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