Zacks Investment Research Lowers Bristow Group (BRS) to Hold

Zacks Investment Research lowered shares of Bristow Group (NYSE:BRS) from a buy rating to a hold rating in a research report released on Thursday.

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. “

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Several other equities analysts also recently commented on BRS. ValuEngine upgraded Bristow Group from a sell rating to a hold rating in a research report on Monday, April 2nd. Credit Suisse Group increased their target price on Bristow Group from $8.00 to $14.00 and gave the company a neutral rating in a research report on Monday, February 12th. Six equities research analysts have rated the stock with a hold rating, The stock currently has an average rating of Hold and an average price target of $13.50.

Shares of BRS stock opened at $16.13 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.45 and a debt-to-equity ratio of 0.88. Bristow Group has a twelve month low of $6.21 and a twelve month high of $17.35. The firm has a market cap of $582.31, a P/E ratio of -7.57 and a beta of 3.00.

Bristow Group (NYSE:BRS) last announced its quarterly earnings data on Thursday, February 8th. The oil and gas company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.13. The business had revenue of $345.53 million during the quarter, compared to the consensus estimate of $354.10 million. Bristow Group had a negative return on equity of 7.91% and a negative net margin of 12.13%. Bristow Group’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.29) EPS. research analysts expect that Bristow Group will post -2.5 earnings per share for the current fiscal year.

In related news, insider L. Don Miller purchased 2,000 shares of the firm’s stock in a transaction dated Thursday, March 15th. The stock was bought at an average price of $12.58 per share, with a total value of $25,160.00. Following the completion of the purchase, the insider now owns 14,199 shares in the company, valued at approximately $178,623.42. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jonathan Baliff purchased 3,900 shares of the firm’s stock in a transaction dated Thursday, March 15th. The stock was bought at an average cost of $12.97 per share, with a total value of $50,583.00. Following the purchase, the chief executive officer now owns 73,244 shares of the company’s stock, valued at approximately $949,974.68. The disclosure for this purchase can be found here. 10.00% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Bristow Group in the fourth quarter valued at about $146,000. Investors Research Corp acquired a new stake in shares of Bristow Group in the fourth quarter valued at about $193,000. MetLife Investment Advisors LLC acquired a new stake in shares of Bristow Group in the fourth quarter valued at about $230,000. Arizona State Retirement System increased its stake in shares of Bristow Group by 224.0% in the fourth quarter. Arizona State Retirement System now owns 54,089 shares of the oil and gas company’s stock valued at $729,000 after buying an additional 37,396 shares during the period. Finally, Engineers Gate Manager LP acquired a new stake in shares of Bristow Group in the fourth quarter valued at about $851,000.

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Bristow Group Company Profile

Bristow Group Inc provides industrial aviation services to the offshore energy companies in Europe Caspian, Africa, the Americas, and the Asia Pacific. The company offers helicopter transportation services to transport personnel between onshore bases and offshore production platforms, drilling rigs, and other installations, as well as to transport time-sensitive equipment to these offshore locations.

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