Zacks Investment Research downgraded shares of Bristow Group (NYSE:BRS) from a buy rating to a hold rating in a report published on Wednesday.

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 BRS. Cowen set a $7.00 target price on Bristow Group and gave the company a hold rating in a research report on Friday, October 6th. Barclays lifted their target price on Bristow Group from $10.00 to $16.00 and gave the company an equal weight rating in a research report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Bristow Group currently has an average rating of Hold and an average target price of $15.00.

Shares of Bristow Group (BRS) traded up $0.42 during midday trading on Wednesday, hitting $16.28. The company had a trading volume of 1,113,800 shares, compared to its average volume of 699,414. The company has a quick ratio of 1.02, a current ratio of 1.34 and a debt-to-equity ratio of 0.97. Bristow Group has a 52 week low of $6.21 and a 52 week high of $21.00. The company has a market capitalization of $573.63, a PE ratio of -3.07 and a beta of 3.09.

Bristow Group (NYSE:BRS) last issued its quarterly earnings results on Wednesday, November 8th. The oil and gas company reported ($0.33) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.95) by $0.62. Bristow Group had a negative return on equity of 7.08% and a negative net margin of 13.31%. The company had revenue of $358.00 million for the quarter, compared to analysts’ expectations of $345.87 million. During the same quarter last year, the business earned ($0.35) earnings per share. Bristow Group’s revenue was up 4.2% on a year-over-year basis. research analysts anticipate that Bristow Group will post -3.43 earnings per share for the current year.

In other Bristow Group news, insider Jonathan Baliff bought 2,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were purchased at an average price of $14.84 per share, for a total transaction of $29,680.00. Following the completion of the transaction, the insider now directly owns 69,344 shares in the company, valued at approximately $1,029,064.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 10.00% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP bought a new position in Bristow Group in the third quarter valued at about $2,160,000. California Public Employees Retirement System boosted its stake in shares of Bristow Group by 15.1% during the third quarter. California Public Employees Retirement System now owns 268,324 shares of the oil and gas company’s stock valued at $2,509,000 after purchasing an additional 35,224 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Bristow Group by 14.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 628,169 shares of the oil and gas company’s stock valued at $5,874,000 after purchasing an additional 78,985 shares in the last quarter. Investec Asset Management LTD acquired a new stake in shares of Bristow Group during the third quarter valued at about $2,422,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Bristow Group by 39.1% during the third quarter. Wells Fargo & Company MN now owns 175,838 shares of the oil and gas company’s stock valued at $1,645,000 after purchasing an additional 49,439 shares in the last quarter.

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Bristow Group Company Profile

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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