Bristow Group (BRS) Lifted to Buy at Zacks Investment Research

Bristow Group (NYSE:BRS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage currently has a $16.00 price target on the oil and gas company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 12.44% from the stock’s previous close.

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 price target on shares of Bristow Group and gave the company a “hold” rating in a research report on Friday, October 6th. BidaskClub upgraded shares of Bristow Group from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Barclays raised their price objective on shares of Bristow Group from $10.00 to $16.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 14th. Finally, ValuEngine upgraded shares of Bristow Group from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Bristow Group currently has a consensus rating of “Hold” and an average price target of $15.00.

Shares of Bristow Group (NYSE:BRS) traded up $0.02 during midday trading on Monday, reaching $14.23. 483,651 shares of the company were exchanged, compared to its average volume of 856,431. Bristow Group has a one year low of $6.21 and a one year high of $21.88. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.34 and a quick ratio of 1.02.

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

In other news, insider Jonathan Baliff acquired 2,000 shares of Bristow Group stock in a transaction on Thursday, November 30th. The stock was acquired at an average cost of $14.84 per share, for a total transaction of $29,680.00. Following the purchase, the insider now owns 69,344 shares in the company, valued at $1,029,064.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.00% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Winslow Asset Management Inc. grew its stake in shares of Bristow Group by 7.4% in the second quarter. Winslow Asset Management Inc. now owns 13,075 shares of the oil and gas company’s stock worth $100,000 after acquiring an additional 900 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of Bristow Group by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 13,100 shares of the oil and gas company’s stock worth $100,000 after acquiring an additional 100 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of Bristow Group by 87.9% in the second quarter. BNP Paribas Arbitrage SA now owns 14,117 shares of the oil and gas company’s stock worth $108,000 after acquiring an additional 6,604 shares during the period. Shell Asset Management Co. bought a new stake in shares of Bristow Group in the third quarter worth approximately $976,000. Finally, Public Employees Retirement System of Ohio grew its stake 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 worth $112,000 after acquiring an additional 634 shares during the period.

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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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