Bristow Group Inc (BRS) Rating Increased to Buy at Zacks Investment Research
Bristow Group Inc (NYSE:BRS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm currently has a $10.00 price objective on the oil and gas company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 7.64% from the company’s current price.
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 research analysts have also recently issued reports on the company. ValuEngine raised Bristow Group from a “strong sell” rating to a “sell” rating in a report on Saturday, May 20th. Barclays PLC set a $13.00 price objective on Bristow Group and gave the company a “hold” rating in a report on Friday, May 26th. BidaskClub raised Bristow Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Credit Suisse Group reissued a “hold” rating and set a $10.00 price objective on shares of Bristow Group in a report on Sunday, May 28th. Finally, Cowen and Company cut Bristow Group from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $14.00 to $7.00 in a report on Friday, May 26th. One equities research 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’s stock. The stock currently has an average rating of “Hold” and an average price target of $12.60.
Bristow Group (NYSE BRS) opened at 9.29 on Thursday. The company’s market cap is $328.19 million. Bristow Group has a 52-week low of $6.21 and a 52-week high of $21.88. The stock’s 50 day moving average is $8.13 and its 200 day moving average is $10.38.
Bristow Group (NYSE:BRS) last issued its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.83) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.11) by $0.28. The company had revenue of $352.10 million during the quarter, compared to analysts’ expectations of $299.93 million. Bristow Group had a negative return on equity of 6.83% and a negative net margin of 13.32%. The business’s revenue was down 4.7% on a year-over-year basis. During the same period last year, the business earned ($0.34) earnings per share. On average, 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 stock was acquired at an average cost of $7.70 per share, with a total value of $50,050.00. Following the completion of the acquisition, the insider now directly owns 67,344 shares of the company’s stock, valued at approximately $518,548.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 10.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its holdings in shares of Bristow Group by 4.5% in the second quarter. Public Employees Retirement System of Ohio now owns 14,584 shares of the oil and gas company’s stock valued at $112,000 after buying an additional 634 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of Bristow Group in the second quarter valued at about $194,000. The Manufacturers Life Insurance Company raised its holdings in shares of Bristow Group by 6.5% in the second quarter. The Manufacturers Life Insurance Company now owns 28,466 shares of the oil and gas company’s stock valued at $218,000 after buying an additional 1,737 shares during the last quarter. BlueCrest Capital Management Ltd raised its holdings in shares of Bristow Group by 224.9% in the second quarter. BlueCrest Capital Management Ltd now owns 45,514 shares of the oil and gas company’s stock valued at $348,000 after buying an additional 31,504 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Bristow Group by 14.3% in the second quarter. Goldman Sachs Group Inc. now owns 128,295 shares of the oil and gas company’s stock valued at $981,000 after buying an additional 16,036 shares during the last quarter.
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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