Bristow Group (NYSE:VTOL) Hits New 52-Week High Following Analyst Upgrade

Shares of Bristow Group Inc. (NYSE:VTOL) reached a new 52-week high on Wednesday after Raymond James Financial upgraded the stock to a moderate buy rating. The company traded as high as $46.28 and last traded at $45.7440, with a volume of 12150 shares changing hands. The stock had previously closed at $44.20.

Several other equities research analysts have also recently weighed in on VTOL. Weiss Ratings restated a “buy (b-)” rating on shares of Bristow Group in a report on Wednesday, January 21st. JonesTrading initiated coverage on Bristow Group in a research note on Friday, January 23rd. They set a “buy” rating for the company. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $60.00.

Insider Activity at Bristow Group

In related news, Director Lorin L. Brass sold 2,500 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $38.00, for a total value of $95,000.00. Following the completion of the sale, the director owned 21,705 shares of the company’s stock, valued at $824,790. This trade represents a 10.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 13.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bristow Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Bristow Group in the 2nd quarter worth about $25,000. Clearstead Advisors LLC grew its holdings in Bristow Group by 1,450.7% in the fourth quarter. Clearstead Advisors LLC now owns 1,070 shares of the company’s stock worth $39,000 after purchasing an additional 1,001 shares during the period. Parkside Financial Bank & Trust grew its holdings in Bristow Group by 1,645.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,117 shares of the company’s stock worth $41,000 after purchasing an additional 1,053 shares during the period. CWM LLC increased its stake in shares of Bristow Group by 208.4% during the second quarter. CWM LLC now owns 1,351 shares of the company’s stock valued at $45,000 after purchasing an additional 913 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of Bristow Group during the first quarter valued at approximately $44,000. Hedge funds and other institutional investors own 93.29% of the company’s stock.

Bristow Group Stock Performance

The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.53 and a current ratio of 1.91. The stock has a market capitalization of $1.35 billion, a P/E ratio of 9.74 and a beta of 1.38. The business has a 50-day moving average price of $41.02 and a 200 day moving average price of $38.91.

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.