Credit Suisse Group Increases Bristow Group (BRS) Price Target to $14.00

Bristow Group (NYSE:BRS) had its price objective boosted by analysts at Credit Suisse Group from $8.00 to $14.00 in a research note issued to investors on Monday. The firm presently has a “neutral” rating on the oil and gas company’s stock. Credit Suisse Group’s price target suggests a potential downside of 10.26% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Bristow Group from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Monday, December 11th. Barclays increased their target price 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 analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $13.25.

Bristow Group (NYSE BRS) traded up $1.47 during mid-day trading on Monday, reaching $15.60. 1,200,198 shares of the company’s stock traded hands, compared to its average volume of 649,142. Bristow Group has a fifty-two week low of $6.21 and a fifty-two week high of $18.27. The company has a quick ratio of 1.09, a current ratio of 1.45 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $551.70, a price-to-earnings ratio of -3.18 and a beta of 3.15.

Bristow Group (NYSE:BRS) last announced its earnings results on Thursday, February 8th. The oil and gas company reported ($0.52) earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $345.53 million for the quarter, compared to the consensus estimate of $354.10 million. During the same quarter in the prior year, the firm posted ($0.29) earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. research analysts anticipate that Bristow Group will post -3.34 EPS for the current fiscal year.

In other news, insider Jonathan Baliff bought 2,000 shares of Bristow Group stock in a transaction dated Thursday, November 30th. The shares were acquired at an average price of $14.84 per share, with a total value of $29,680.00. Following the completion of the purchase, the insider now owns 69,344 shares in the company, valued at approximately $1,029,064.96. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 10.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its stake in shares of Bristow Group by 4.5% in the second 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 acquiring an additional 634 shares during the period. Teachers Advisors LLC increased its stake in Bristow Group by 1.1% in the 2nd quarter. Teachers Advisors LLC now owns 86,977 shares of the oil and gas company’s stock worth $665,000 after buying an additional 969 shares during the period. The Manufacturers Life Insurance Company increased its stake in Bristow Group by 6.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,466 shares of the oil and gas company’s stock worth $218,000 after buying an additional 1,737 shares during the period. Voya Investment Management LLC increased its stake in Bristow Group by 21.9% in the 2nd quarter. Voya Investment Management LLC now owns 16,965 shares of the oil and gas company’s stock worth $130,000 after buying an additional 3,043 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in Bristow Group by 44.2% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 20,360 shares of the oil and gas company’s stock worth $190,000 after buying an additional 6,243 shares during the period.

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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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