Bristow Group (NYSE:VTOL) Reaches New 1-Year High – Here’s Why

Bristow Group Inc. (NYSE:VTOL)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $45.55 and last traded at $44.09, with a volume of 219376 shares changing hands. The stock had previously closed at $45.00.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Jones Trading initiated coverage on Bristow Group in a research note on Friday, January 23rd. They issued a “buy” rating on the stock. Wall Street Zen upgraded shares of Bristow Group from a “hold” rating to a “buy” rating in a research report on Sunday, October 19th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Bristow Group in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Bristow Group presently has a consensus rating of “Buy”.

Bristow Group Trading Down 2.2%

The business’s 50 day moving average price is $38.61 and its two-hundred day moving average price is $37.91. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.53 and a current ratio of 1.91. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 9.20 and a beta of 1.39.

Bristow Group (NYSE:VTOL) last announced its earnings results on Wednesday, November 5th. The company reported $1.72 EPS for the quarter, topping the consensus estimate of $0.94 by $0.78. The firm had revenue of $386.29 million for the quarter, compared to analysts’ expectations of $400.00 million. Bristow Group had a return on equity of 14.83% and a net margin of 9.71%.

Insider Transactions at Bristow Group

In other Bristow Group news, Director Lorin L. Brass sold 2,500 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $38.00, for a total value of $95,000.00. Following the sale, the director directly owned 21,705 shares in the company, valued at approximately $824,790. The trade was a 10.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Manzo sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $38.75, for a total transaction of $232,500.00. Following the transaction, the director owned 32,583 shares of the company’s stock, valued at approximately $1,262,591.25. This trade represents a 15.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 221,000 shares of company stock worth $8,417,775 over the last 90 days. 13.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Bristow Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in Bristow Group during the second quarter worth approximately $25,000. Strs Ohio bought a new position in shares of Bristow Group in the first quarter valued at $44,000. CWM LLC lifted its position in shares of Bristow Group by 208.4% during the 2nd quarter. CWM LLC now owns 1,351 shares of the company’s stock valued at $45,000 after acquiring an additional 913 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Bristow Group by 296.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,508 shares of the company’s stock worth $83,000 after acquiring an additional 1,876 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Bristow Group during the 2nd quarter worth $90,000. 93.29% of the stock is currently owned by institutional investors.

About Bristow Group

Bristow Group Inc is a global provider of helicopter services to the offshore energy industry and search-and-rescue (SAR) operations worldwide. The company specializes in the safe and efficient transport of personnel, equipment and supplies to offshore oil and gas platforms, as well as emergency response and medevac services. Bristow’s operations support exploration, production and decommissioning activities, helping energy companies maintain continuity of production in some of the world’s most challenging environments.

The company maintains a diverse fleet of turbine-powered helicopters, including medium- and heavy-lift aircraft such as the Sikorsky S-92, Airbus H225 (formerly EC225) and Leonardo AW189.