Bristow Group Inc (NYSE:BRS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
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 research analysts have also commented on BRS. Barclays PLC restated a “hold” rating and issued a $10.00 price target on shares of Bristow Group in a report on Friday, August 11th. BidaskClub upgraded shares of Bristow Group from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Cowen and Company lowered shares of Bristow Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $14.00 to $7.00 in a report on Friday, May 26th. Credit Suisse Group restated a “hold” rating and issued a $10.00 price target on shares of Bristow Group in a report on Sunday, May 28th. Finally, ValuEngine upgraded shares of Bristow Group from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $12.60.
Shares of Bristow Group (BRS) opened at 9.29 on Friday. The stock’s market capitalization is $328.19 million. The stock has a 50 day moving average of $8.13 and a 200-day moving average of $10.38. Bristow Group has a 1-year low of $6.21 and a 1-year high of $21.88.
Bristow Group (NYSE:BRS) last released its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.83) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.11) by $0.28. Bristow Group had a negative net margin of 13.32% and a negative return on equity of 6.83%. The business had revenue of $352.10 million for the quarter, compared to analysts’ expectations of $299.93 million. During the same period last year, the company earned ($0.34) earnings per share. The company’s quarterly revenue was down 4.7% on a year-over-year basis. Equities research analysts predict that Bristow Group will post ($3.42) earnings per share for the current fiscal year.
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In other Bristow Group news, insider Jonathan Baliff purchased 6,500 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were purchased at an average price of $7.70 per share, for a total transaction of $50,050.00. Following the completion of the acquisition, the insider now owns 67,344 shares of the company’s stock, valued at approximately $518,548.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 10.00% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of BRS. Boston Partners raised its stake in shares of Bristow Group by 112.2% during the second quarter. Boston Partners now owns 1,818,857 shares of the oil and gas company’s stock valued at $13,914,000 after purchasing an additional 961,730 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Bristow Group during the first quarter valued at approximately $6,242,000. Ariel Investments LLC raised its stake in shares of Bristow Group by 3.8% during the first quarter. Ariel Investments LLC now owns 10,160,521 shares of the oil and gas company’s stock valued at $154,542,000 after purchasing an additional 371,009 shares during the period. State Street Corp raised its stake in shares of Bristow Group by 29.6% during the first quarter. State Street Corp now owns 1,419,712 shares of the oil and gas company’s stock valued at $21,594,000 after purchasing an additional 324,214 shares during the period. Finally, D.A. Davidson & CO. raised its stake in shares of Bristow Group by 109.2% during the second quarter. D.A. Davidson & CO. now owns 520,672 shares of the oil and gas company’s stock valued at $3,983,000 after purchasing an additional 271,810 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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