Bristow Group (NYSE:VTOL) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Bristow Group from a “strong sell” to a “hold,” adding to a mixed analyst picture for the stock.
• Across recent coverage, Bristow now has three Buy ratings and one Hold, with a MarketBeat consensus of Moderate Buy and a $60.00 average target price.
• The company’s latest earnings showed EPS of $0.44, well below expectations, while revenue came in slightly ahead of estimates at $388.71 million.

Bristow Group (NYSE:VTOL - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

VTOL has been the topic of several other research reports. Weiss Ratings reissued a "buy (b)" rating on shares of Bristow Group in a research note on Friday, May 29th. Wall Street Zen lowered shares of Bristow Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.

Bristow Group Stock Performance

Shares of VTOL opened at $43.94 on Tuesday. The stock has a market capitalization of $1.30 billion, a PE ratio of 11.44 and a beta of 1.23. The business's fifty day moving average price is $42.87 and its 200 day moving average price is $43.60. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.15 and a quick ratio of 1.79. Bristow Group has a 12-month low of $32.76 and a 12-month high of $50.38.

Bristow Group (NYSE:VTOL - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.01 by ($0.57). The company had revenue of $388.71 million during the quarter, compared to the consensus estimate of $383.68 million. Bristow Group had a net margin of 7.51% and a return on equity of 11.10%. Equities research analysts forecast that Bristow Group will post 3.87 EPS for the current year.

Hedge Funds Weigh In On Bristow Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Bristow Group by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 2,056,599 shares of the company's stock valued at $75,313,000 after purchasing an additional 71,638 shares during the last quarter. Invenomic Capital Management LP lifted its stake in shares of Bristow Group by 15.7% in the third quarter. Invenomic Capital Management LP now owns 132,596 shares of the company's stock worth $4,784,000 after buying an additional 18,003 shares during the last quarter. Horizon Investments LLC bought a new stake in shares of Bristow Group during the 4th quarter worth $616,000. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in Bristow Group by 33.3% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 130,735 shares of the company's stock valued at $4,795,000 after buying an additional 32,623 shares during the last quarter. Finally, Encompass Capital Advisors LLC acquired a new position in Bristow Group in the 4th quarter valued at $25,613,000. 93.29% of the stock is currently owned by hedge funds and other 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.

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