Bristow Group (BRS) Downgraded to Hold at Zacks Investment Research

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

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

Shares of Bristow Group (NYSE:BRS) opened at $16.58 on Wednesday. Bristow Group has a 1-year low of $6.21 and a 1-year high of $21.00. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.02 and a current ratio of 1.34.

Bristow Group (NYSE:BRS) last released its earnings results on Wednesday, November 8th. The oil and gas company reported ($0.33) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $358.00 million during the quarter, compared to analyst estimates of $345.87 million. During the same quarter in the prior year, the firm earned ($0.35) earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. analysts expect that Bristow Group will post -3.34 earnings per share for the current fiscal year.

In other Bristow Group news, insider Jonathan Baliff bought 2,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was acquired at an average price of $14.84 per share, with a total value of $29,680.00. Following the completion of the acquisition, the insider now directly owns 69,344 shares of the company’s stock, valued at $1,029,064.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.00% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP purchased a new stake in shares of Bristow Group in the third quarter valued at about $2,160,000. California Public Employees Retirement System grew its holdings in shares of Bristow Group by 15.1% in 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 during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Bristow Group by 14.4% in 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 during the period. Investec Asset Management LTD purchased a new stake in shares of Bristow Group in the third quarter valued at about $2,422,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Bristow Group by 39.1% in 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 during the period.

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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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