Bristow Group (NYSE:VTOL) Sets New 52-Week High After Analyst Upgrade

Bristow Group Inc. (NYSE:VTOL) shares hit a new 52-week high on Wednesday after Raymond James Financial upgraded the stock to a moderate buy rating. The stock traded as high as $46.28 and last traded at $45.7440, with a volume of 12150 shares changing hands. The stock had previously closed at $44.20.

Several other equities research analysts have also recently weighed in on VTOL. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Bristow Group in a research report on Wednesday, January 21st. JonesTrading assumed coverage on Bristow Group in a research note on Friday, January 23rd. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $60.00.

Insider Buying and Selling at Bristow Group

In other Bristow Group news, Director Lorin L. Brass sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $38.00, for a total value of $95,000.00. Following the transaction, the director directly owned 21,705 shares of the company’s stock, valued at approximately $824,790. This trade represents a 10.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.40% of the stock is owned by corporate insiders.

Institutional Trading of Bristow Group

Hedge funds have recently modified their holdings of the company. State of Tennessee Department of Treasury lifted its stake in Bristow Group by 30.3% in the fourth quarter. State of Tennessee Department of Treasury now owns 17,178 shares of the company’s stock worth $629,000 after purchasing an additional 3,990 shares during the last quarter. Empowered Funds LLC increased its position in Bristow Group by 4.0% during the 4th quarter. Empowered Funds LLC now owns 139,922 shares of the company’s stock valued at $5,124,000 after purchasing an additional 5,433 shares during the period. XTX Topco Ltd bought a new stake in shares of Bristow Group in the 4th quarter valued at about $800,000. VARCOV Co. purchased a new stake in shares of Bristow Group in the 4th quarter worth approximately $291,000. Finally, Wellington Management Group LLP boosted its stake in shares of Bristow Group by 3.1% during the fourth quarter. Wellington Management Group LLP now owns 755,388 shares of the company’s stock valued at $27,662,000 after purchasing an additional 22,680 shares in the last quarter. 93.29% of the stock is owned by hedge funds and other institutional investors.

Bristow Group Price Performance

The firm has a 50-day simple moving average of $41.02 and a 200-day simple moving average of $38.91. The firm has a market cap of $1.35 billion, a P/E ratio of 9.74 and a beta of 1.38. The company has a current ratio of 1.91, a quick ratio of 1.53 and a debt-to-equity ratio of 0.63.

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.