Bristow Group (NYSE:VTOL) Reaches New 1-Year High – Here’s What Happened

Bristow Group Inc. (NYSE:VTOL) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $45.55 and last traded at $44.09, with a volume of 219376 shares traded. The stock had previously closed at $45.00.

Analyst Upgrades and Downgrades

Several analysts have weighed in on VTOL shares. Wall Street Zen upgraded shares of Bristow Group from a “hold” rating to a “buy” rating in a research note on Sunday, October 19th. Jones Trading assumed coverage on shares of Bristow Group in a research report on Friday, January 23rd. They set a “buy” rating for the company. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Bristow Group in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy”.

Bristow Group Stock Down 2.0%

The firm’s 50-day moving average price is $38.30 and its 200 day moving average price is $37.80. The firm has a market cap of $1.28 billion, a P/E ratio of 9.22 and a beta of 1.39. The company has a quick ratio of 1.53, a current ratio of 1.91 and a debt-to-equity ratio of 0.63.

Bristow Group (NYSE:VTOL) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.78. Bristow Group had a net margin of 9.71% and a return on equity of 14.83%. The firm had revenue of $386.29 million for the quarter, compared to the consensus estimate of $400.00 million.

Insiders Place Their Bets

In other Bristow Group news, Director Lorin L. Brass sold 2,500 shares of the business’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $38.00, for a total transaction of $95,000.00. Following the completion of the transaction, the director owned 21,705 shares in the company, valued at approximately $824,790. The trade was a 10.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director George Mark Mickelson sold 10,000 shares of Bristow Group stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $38.40, for a total transaction of $384,000.00. Following the sale, the director owned 60,265 shares in the company, valued at approximately $2,314,176. This represents a 14.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 221,000 shares of company stock valued at $8,417,775 in the last quarter. 13.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VTOL. Empowered Funds LLC boosted its holdings in Bristow Group by 22.5% during the second quarter. Empowered Funds LLC now owns 127,942 shares of the company’s stock worth $4,218,000 after buying an additional 23,473 shares in the last quarter. 683 Capital Management LLC acquired a new stake in shares of Bristow Group during the 2nd quarter valued at $2,906,000. Geode Capital Management LLC boosted its stake in shares of Bristow Group by 9.0% during the 2nd quarter. Geode Capital Management LLC now owns 624,318 shares of the company’s stock worth $20,588,000 after acquiring an additional 51,594 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Bristow Group by 72.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 19,335 shares of the company’s stock worth $637,000 after acquiring an additional 8,102 shares during the last quarter. Finally, Brandywine Global Investment Management LLC raised its position in shares of Bristow Group by 19.9% during the second quarter. Brandywine Global Investment Management LLC now owns 125,089 shares of the company’s stock worth $4,124,000 after purchasing an additional 20,750 shares during the period. 93.29% of the stock is currently owned by institutional investors.

About Bristow Group

Bristow Group Inc is a global provider of helicopter services to the offshore energy industry and search-and-rescue (SAR) operations worldwide. The company specializes in the safe and efficient transport of personnel, equipment and supplies to offshore oil and gas platforms, as well as emergency response and medevac services. Bristow’s operations support exploration, production and decommissioning activities, helping energy companies maintain continuity of production in some of the world’s most challenging environments.

The company maintains a diverse fleet of turbine-powered helicopters, including medium- and heavy-lift aircraft such as the Sikorsky S-92, Airbus H225 (formerly EC225) and Leonardo AW189.