Bristow Group (BRS) Upgraded to “Hold” by ValuEngine

ValuEngine upgraded shares of Bristow Group (NYSE:BRS) from a sell rating to a hold rating in a research note released on Monday.

BRS has been the subject of several other reports. Zacks Investment Research cut Bristow Group from a hold rating to a sell rating in a report on Monday, February 12th. Credit Suisse Group lifted their price target on Bristow Group from $8.00 to $14.00 and gave the stock a neutral rating in a report on Monday, February 12th. Six analysts have rated the stock with a hold rating, The company presently has an average rating of Hold and an average target price of $13.25.

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NYSE:BRS traded down $0.30 during mid-day trading on Monday, hitting $13.12. 19,362 shares of the stock were exchanged, compared to its average volume of 586,016. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.45 and a quick ratio of 1.09. Bristow Group has a fifty-two week low of $6.21 and a fifty-two week high of $17.35.

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

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

A number of hedge funds and other institutional investors have recently made changes to their positions in BRS. JPMorgan Chase & Co. raised its holdings in Bristow Group by 17,519.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 456,341 shares of the oil and gas company’s stock valued at $4,303,000 after acquiring an additional 453,751 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Bristow Group in the 3rd quarter valued at $2,160,000. Two Sigma Investments LP acquired a new position in Bristow Group in the 4th quarter valued at $1,960,000. Wolverine Asset Management LLC raised its holdings in Bristow Group by 1,537.2% in the 4th quarter. Wolverine Asset Management LLC now owns 149,100 shares of the oil and gas company’s stock valued at $2,008,000 after acquiring an additional 139,993 shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new position in Bristow Group in the 4th quarter valued at $1,438,000.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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