Bristow Group Inc (NYSE:BRS) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report issued on Tuesday.
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 equities analysts have also issued reports on the company. ValuEngine raised Bristow Group from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. BidaskClub raised Bristow Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Cowen and Company set a $7.00 price target on Bristow Group and gave the company a “hold” rating in a research note on Friday, October 6th. Finally, Barclays PLC reaffirmed a “hold” rating and set a $10.00 price target on shares of Bristow Group in a research note on Friday, August 11th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $12.60.
Shares of Bristow Group (NYSE:BRS) traded up 4.31% during trading on Tuesday, reaching $9.44. The company had a trading volume of 600,288 shares. The stock’s market capitalization is $333.49 million. Bristow Group has a 12 month low of $6.21 and a 12 month high of $21.88. The stock’s 50-day moving average price is $9.37 and its 200-day moving average price is $9.20.
Bristow Group (NYSE:BRS) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.28. The firm had revenue of $352.10 million during the quarter, compared to analyst estimates of $299.93 million. Bristow Group had a negative return on equity of 6.83% and a negative net margin of 13.32%. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period last year, the company posted ($0.34) EPS. Equities analysts forecast that Bristow Group will post ($3.44) earnings per share for the current fiscal year.
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In related news, insider Jonathan Baliff acquired 6,500 shares of Bristow Group stock in a transaction dated 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 purchase, the insider now directly owns 67,344 shares in the company, valued at approximately $518,548.80. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 10.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BRS. Boston Partners boosted its stake in shares of Bristow Group by 112.2% during the 2nd quarter. Boston Partners now owns 1,818,857 shares of the oil and gas company’s stock worth $13,914,000 after acquiring an additional 961,730 shares in the last quarter. State Street Corp boosted its stake in shares of Bristow Group by 29.6% during the 1st quarter. State Street Corp now owns 1,419,712 shares of the oil and gas company’s stock worth $21,594,000 after acquiring an additional 324,214 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of Bristow Group by 109.2% during the 2nd quarter. D.A. Davidson & CO. now owns 520,672 shares of the oil and gas company’s stock worth $3,983,000 after acquiring an additional 271,810 shares in the last quarter. South Dakota Investment Council boosted its stake in shares of Bristow Group by 93.3% during the 2nd quarter. South Dakota Investment Council now owns 459,936 shares of the oil and gas company’s stock worth $3,519,000 after acquiring an additional 222,000 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of Bristow Group by 15.5% during the 1st quarter. Morgan Stanley now owns 1,358,943 shares of the oil and gas company’s stock worth $20,669,000 after acquiring an additional 182,319 shares in 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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