Bristow Group Inc (BRS) Raised to Buy at Zacks Investment Research
Bristow Group Inc (NYSE:BRS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm presently has a $10.00 price target on the oil and gas company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 7.07% from the company’s previous close.
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 brokerages also recently issued reports on BRS. BidaskClub raised shares of Bristow Group from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Barclays PLC reaffirmed a “hold” rating and issued a $10.00 price objective on shares of Bristow Group in a report on Friday, August 11th. Cowen and Company downgraded shares of Bristow Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $14.00 to $7.00 in a report on Friday, May 26th. ValuEngine raised shares of Bristow Group from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Finally, Credit Suisse Group reaffirmed a “hold” rating and issued a $10.00 price objective on shares of Bristow Group in a report on Sunday, May 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $12.60.
Bristow Group (NYSE:BRS) traded up 0.54% during mid-day trading on Thursday, hitting $9.34. 832,745 shares of the stock traded hands. Bristow Group has a 1-year low of $6.21 and a 1-year high of $21.88. The stock has a 50-day moving average of $7.97 and a 200 day moving average of $10.44. The firm’s market cap is $329.95 million.
Bristow Group (NYSE:BRS) last announced its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.11) by $0.28. Bristow Group had a negative net margin of 13.32% and a negative return on equity of 6.83%. The company had revenue of $352.10 million during the quarter, compared to the consensus estimate of $299.93 million. During the same quarter in the previous year, the company posted ($0.34) earnings per share. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, equities analysts expect that Bristow Group will post ($3.42) EPS for the current year.
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In related news, insider Jonathan Baliff acquired 6,500 shares of the business’s stock in a transaction on Friday, August 18th. The shares were purchased at an average price of $7.70 per share, for a total transaction of $50,050.00. Following the acquisition, the insider now owns 67,344 shares in the company, valued at $518,548.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.00% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of BRS. Louisiana State Employees Retirement System raised its holdings in Bristow Group by 0.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 13,100 shares of the oil and gas company’s stock worth $100,000 after buying an additional 100 shares during the period. Winslow Asset Management Inc. raised its holdings in Bristow Group by 7.4% during the 2nd quarter. Winslow Asset Management Inc. now owns 13,075 shares of the oil and gas company’s stock worth $100,000 after buying an additional 900 shares during the period. BNP Paribas Arbitrage SA raised its holdings in Bristow Group by 87.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 14,117 shares of the oil and gas company’s stock worth $108,000 after buying an additional 6,604 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Bristow Group by 4.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 14,584 shares of the oil and gas company’s stock worth $112,000 after buying an additional 634 shares during the period. Finally, Mason Street Advisors LLC raised its holdings in Bristow Group by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 7,468 shares of the oil and gas company’s stock worth $114,000 after buying an additional 489 shares during the period.
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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