Bristow Group (NYSE:VTOL) Reaches New 12-Month High – Here’s What Happened

Bristow Group Inc. (NYSE:VTOL)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $45.80 and last traded at $45.5330, with a volume of 5445 shares. The stock had previously closed at $44.25.

Analysts Set New Price Targets

VTOL has been the topic of several analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Bristow Group in a report on Wednesday, January 21st. Jones Trading started coverage on shares of Bristow Group in a report on Friday, January 23rd. They issued a “buy” rating on the stock. Finally, Wall Street Zen upgraded shares of Bristow Group from a “hold” rating to a “buy” rating in a research report on Sunday, October 19th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy”.

Bristow Group Price Performance

The business’s fifty day moving average price is $38.91 and its 200 day moving average price is $38.09. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.91 and a quick ratio of 1.53. The stock has a market cap of $1.29 billion, a P/E ratio of 9.33 and a beta of 1.38.

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

Insider Transactions at Bristow Group

In other Bristow Group news, Director Lorin L. Brass sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $38.00, for a total value of $95,000.00. Following the completion of the transaction, the director directly owned 21,705 shares in the company, valued at approximately $824,790. This represents 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 Robert Manzo sold 6,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $38.75, for a total value of $232,500.00. Following the transaction, the director directly owned 32,583 shares of the company’s stock, valued at approximately $1,262,591.25. This represents a 15.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 221,000 shares of company stock worth $8,417,775. 13.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bristow Group

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of 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 buying an additional 71,638 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Bristow Group by 1.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,678,326 shares of the company’s stock worth $60,555,000 after acquiring an additional 18,978 shares during the period. Taconic Capital Advisors LP raised its holdings in shares of Bristow Group by 6.4% in the 2nd quarter. Taconic Capital Advisors LP now owns 1,331,073 shares of the company’s stock worth $43,885,000 after purchasing an additional 80,000 shares during the period. Brown Advisory Inc. raised its stake in shares of Bristow Group by 21.3% in the second quarter. Brown Advisory Inc. now owns 1,224,954 shares of the company’s stock valued at $40,387,000 after buying an additional 215,214 shares during the period. Finally, American Century Companies Inc. raised its stake in Bristow Group by 11.2% in the 3rd quarter. American Century Companies Inc. now owns 833,992 shares of the company’s stock valued at $30,090,000 after acquiring an additional 84,318 shares during the period. Institutional investors and hedge funds own 93.29% of the company’s stock.

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.