Bristow Group Inc. (BRS) Upgraded to Hold by 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 research note issued to investors 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. “
BRS has been the topic of a number of other research reports. Cowen and Company cut their target price on Bristow Group from $18.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, September 1st. Credit Suisse Group AG reiterated a “hold” rating and set a $15.00 target price on shares of Bristow Group in a research report on Wednesday, June 29th. Finally, Capital One Financial Corp. cut Bristow Group from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, August 16th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $19.44.
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Shares of Bristow Group (NYSE:BRS) remained flat at $11.59 during trading on Tuesday. 515,962 shares of the company traded hands. The company’s market capitalization is $406.38 million. Bristow Group has a 52-week low of $9.17 and a 52-week high of $37.19. The stock has a 50 day moving average of $12.30 and a 200-day moving average of $14.29.
Bristow Group (NYSE:BRS) last posted its earnings results on Thursday, August 4th. The company reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by $0.21. Bristow Group had a positive return on equity of 1.16% and a negative net margin of 6.50%. The firm had revenue of $356.10 million for the quarter, compared to analyst estimates of $383.79 million. During the same quarter last year, the firm posted $0.56 EPS. The firm’s revenue for the quarter was down 20.9% on a year-over-year basis. On average, equities analysts anticipate that Bristow Group will post ($1.76) EPS for the current fiscal year.
In other Bristow Group news, insider Chet Akiri acquired 5,565 shares of the stock in a transaction on Monday, August 29th. The shares were bought at an average price of $11.62 per share, with a total value of $64,665.30. Following the acquisition, the insider now owns 5,565 shares of the company’s stock, valued at $64,665.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan Baliff acquired 8,200 shares of the stock in a transaction on Monday, August 15th. The stock was acquired at an average cost of $12.12 per share, for a total transaction of $99,384.00. Following the acquisition, the insider now directly owns 50,998 shares in the company, valued at approximately $618,095.76. The disclosure for this purchase can be found here. 9.60% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio raised its stake 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 in the last quarter. Commonwealth Equity Services Inc bought a new stake in Bristow Group during the second quarter worth about $114,000. Freestone Capital Holdings LLC bought a new stake in Bristow Group during the second quarter worth about $114,000. Paloma Partners Management Co bought a new stake in Bristow Group during the second quarter worth about $117,000. Finally, Advisors Asset Management Inc. bought a new stake in Bristow Group during the second quarter worth about $121,000.
Bristow Group Company Profile
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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