Bristow Group Inc (BRS) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Bristow Group Inc (NYSE:BRS) from a sell rating to a buy rating in a research note released on Wednesday morning. The firm currently has $10.00 price target on the oil and gas company’s stock.
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 equities analysts have also weighed in on the company. ValuEngine raised Bristow Group from a strong sell rating to a sell rating in a research note on Friday, September 1st. BidaskClub raised Bristow Group from a sell rating to a hold rating in a research note on Friday, August 25th. Barclays PLC reaffirmed a hold rating and issued a $10.00 price objective on shares of Bristow Group in a research note on Friday, August 11th. Credit Suisse Group reaffirmed a hold rating and issued a $10.00 price objective on shares of Bristow Group in a research note on Sunday, May 28th. Finally, Cowen and Company downgraded Bristow Group from an outperform rating to a market perform rating and dropped their target price for the company from $14.00 to $7.00 in a report on Friday, May 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $12.60.
Shares of Bristow Group (NYSE:BRS) opened at 8.94 on Wednesday. Bristow Group has a 1-year low of $6.21 and a 1-year high of $21.88. The stock’s market capitalization is $315.82 million. The company’s 50 day moving average is $7.79 and its 200-day moving average is $10.66.
Bristow Group (NYSE:BRS) last released its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($1.11) by $0.28. The business had revenue of $352.10 million for the quarter, compared to analyst estimates of $299.93 million. Bristow Group had a negative return on equity of 6.83% and a negative net margin of 13.32%. The company’s revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.34) EPS. Equities analysts anticipate that Bristow Group will post ($3.42) earnings per share for the current fiscal year.
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In related news, insider Jonathan Baliff bought 6,500 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were acquired at an average cost 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 approximately $518,548.80. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 10.00% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Mason Street Advisors LLC raised its holdings in shares of 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 valued at $114,000 after buying an additional 489 shares during the period. Invictus RG purchased a new stake in shares of Bristow Group during the 1st quarter valued at about $136,000. Nisa Investment Advisors LLC raised its holdings in shares of Bristow Group by 959.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 11,655 shares of the oil and gas company’s stock valued at $177,000 after buying an additional 10,555 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of Bristow Group by 1.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 13,000 shares of the oil and gas company’s stock valued at $198,000 after buying an additional 200 shares during the period. Finally, Winslow Asset Management Inc. raised its holdings in shares of 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 valued at $100,000 after buying an additional 900 shares during the period.
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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