Bristow Group Inc. (BRS) Raised to “Hold” at Zacks Investment Research
Bristow Group Inc. (NYSE:BRS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Bristow Group Inc. is a leading provider of helicopter services to the worldwide energy industry. Through its subsidiaries, affiliates and joint ventures, the Company has major transportation operations in the U.S. Gulf of Mexico and the North Sea, and in most of the other major offshore oil and gas producing regions of the world, including Alaska, Australia, Brazil, Mexico, Nigeria, Russia and Trinidad. Additionally, the Company is a leading provider of production management services for oil and gas production facilities in the U.S. Gulf of Mexico. “
Several other research analysts also recently issued reports on BRS. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Bristow Group in a research note on Wednesday, June 29th. Capital One Financial Corp. downgraded Bristow Group from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, August 16th. Finally, Cowen and Company lowered their price objective on Bristow Group from $18.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, September 1st. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $19.44.
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Shares of Bristow Group (NYSE:BRS) remained flat at $11.59 during mid-day trading on Tuesday. The company had a trading volume of 515,962 shares. Bristow Group has a 52 week low of $9.17 and a 52 week high of $37.19. The firm’s market cap is $406.38 million. The company’s 50 day moving average price is $12.32 and its 200 day moving average price is $14.31.
Bristow Group (NYSE:BRS) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by $0.21. Bristow Group had a negative net margin of 6.50% and a positive return on equity of 1.16%. The firm earned $356.10 million during the quarter, compared to analyst estimates of $383.79 million. During the same period in the prior year, the company earned $0.56 EPS. The business’s quarterly revenue was down 20.9% compared to the same quarter last year. Analysts forecast that Bristow Group will post ($1.76) earnings per share for the current year.
In other Bristow Group news, insider Jonathan Baliff purchased 8,200 shares of the business’s stock in a transaction on Monday, August 15th. The shares were purchased at an average cost of $12.12 per share, for a total transaction of $99,384.00. Following the acquisition, the insider now owns 50,998 shares of the company’s stock, valued at $618,095.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Chet Akiri purchased 5,565 shares of the business’s stock in a transaction on Monday, August 29th. The shares were acquired at an average price of $11.62 per share, for a total transaction of $64,665.30. Following the completion of the acquisition, the insider now directly owns 5,565 shares in the company, valued at approximately $64,665.30. The disclosure for this purchase can be found here. Company insiders own 9.60% of the company’s stock.
Several institutional investors have recently bought and sold shares of BRS. MSI Financial Services Inc boosted its position in Bristow Group by 178.6% in the third quarter. MSI Financial Services Inc now owns 49,599 shares of the company’s stock worth $695,000 after buying an additional 31,799 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Bristow Group by 54.4% in the second quarter. Public Employees Retirement System of Ohio now owns 8,724 shares of the company’s stock worth $100,000 after buying an additional 3,072 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Bristow Group by 43.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 315,637 shares of the company’s stock worth $3,602,000 after buying an additional 95,338 shares during the last quarter. Numeric Investors LLC purchased a new position in shares of Bristow Group during the second quarter worth $890,000. Finally, Arizona State Retirement System raised its position in shares of Bristow Group by 1.1% in the second quarter. Arizona State Retirement System now owns 18,193 shares of the company’s stock worth $208,000 after buying an additional 200 shares during the last quarter.
About Bristow Group
Bristow Group Inc is an industrial aviation services provider and helicopter service provider to the offshore energy industry. The Industrial Aviation Services segment’s operations are conducted primarily through four regions: Europe Caspian, Africa, Americas and Asia Pacific. The Europe Caspian region consists of all its operations and affiliates in Europe and Central Asia, including Norway, the United Kingdom and Turkmenistan.
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