Bristow Group Inc. (BRS) Upgraded to “Hold” by Zacks Investment Research
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 equities research analysts also recently commented on BRS. Cowen and Company dropped their price objective on shares of Bristow Group from $18.00 to $14.00 and set an outperform rating on the stock in a research report on Thursday, September 1st. Capital One Financial Corp. downgraded shares of Bristow Group from an overweight rating to an equal weight rating in a research report on Tuesday, August 16th. Finally, Credit Suisse Group AG reissued a hold rating and issued a $15.00 price objective on shares of Bristow Group in a research report on Wednesday, June 29th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $19.44.
Bristow Group (NYSE:BRS) opened at 11.59 on Tuesday. Bristow Group has a 52-week low of $9.17 and a 52-week high of $37.19. The firm’s market capitalization is $406.38 million. The company’s 50-day moving average is $12.31 and its 200-day moving average is $14.27.
Bristow Group (NYSE:BRS) last announced its earnings results on Thursday, August 4th. The company reported ($0.34) earnings per share for the quarter, missing the 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 business had revenue of $356.10 million for the quarter, compared to analysts’ expectations of $383.79 million. During the same period in the previous year, the company earned $0.56 earnings per share. Bristow Group’s quarterly revenue was down 20.9% on a year-over-year basis. On average, analysts predict that Bristow Group will post ($1.76) EPS for the current year.
In related news, insider Chet Akiri purchased 5,565 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was acquired at an average price of $11.62 per share, for a total transaction of $64,665.30. Following the acquisition, the insider now directly owns 5,565 shares of the company’s stock, valued at approximately $64,665.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathan Baliff purchased 8,200 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was bought at an average price of $12.12 per share, with a total value of $99,384.00. Following the acquisition, the insider now directly owns 50,998 shares in the company, valued at $618,095.76. The disclosure for this purchase can be found here. 9.60% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio increased 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 in the last quarter. Commonwealth Equity Services Inc acquired a new position in Bristow Group during the second quarter valued at $114,000. Freestone Capital Holdings LLC acquired a new position in Bristow Group during the second quarter valued at $114,000. Paloma Partners Management Co acquired a new position in Bristow Group during the second quarter valued at $117,000. Finally, Advisors Asset Management Inc. acquired a new position in Bristow Group during the second quarter valued at $121,000.
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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