Bristow Group (BRS) Downgraded by Zacks Investment Research to “Sell”

Bristow Group (NYSE:BRS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday.

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. “

A number of other brokerages have also commented on BRS. Credit Suisse Group boosted their price target on shares of Bristow Group from $8.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday. Barclays boosted their price target on shares of Bristow Group from $10.00 to $16.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 14th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $13.25.

Bristow Group (BRS) traded up $1.47 during trading on Monday, hitting $15.60. 1,200,198 shares of the company were exchanged, compared to its average volume of 649,142. The company has a quick ratio of 1.09, a current ratio of 1.45 and a debt-to-equity ratio of 0.88. Bristow Group has a 52 week low of $6.21 and a 52 week high of $18.27. The firm has a market cap of $551.70, a P/E ratio of -3.18 and a beta of 3.15.

Bristow Group (NYSE:BRS) last released its earnings results on Thursday, February 8th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.65) by $0.13. Bristow Group had a negative net margin of 12.13% and a negative return on equity of 7.91%. The company had revenue of $345.53 million for the quarter, compared to the consensus estimate of $354.10 million. During the same quarter in the previous year, the company earned ($0.29) EPS. Bristow Group’s quarterly revenue was up 6.5% compared to the same quarter last year. analysts anticipate that Bristow Group will post -3.34 earnings per share for the current fiscal year.

In other Bristow Group news, insider Jonathan Baliff purchased 2,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was acquired at an average price of $14.84 per share, for a total transaction of $29,680.00. Following the purchase, the insider now owns 69,344 shares of the company’s stock, valued at approximately $1,029,064.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.00% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio increased its stake 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 valued at $112,000 after purchasing an additional 634 shares in the last quarter. HighTower Advisors LLC bought a new stake in Bristow Group during the 2nd quarter valued at $126,000. Voya Investment Management LLC increased its stake in Bristow Group by 21.9% during the 2nd quarter. Voya Investment Management LLC now owns 16,965 shares of the oil and gas company’s stock valued at $130,000 after purchasing an additional 3,043 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Bristow Group during the 4th quarter valued at $146,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Bristow Group during the 3rd quarter valued at $167,000.

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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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