Equities researchers at Jones Trading have initiated coverage on shares of Bristow Group (NYSE:VTOL) with a favorable “buy” rating, according to a research note released on October 19, 2023. This positive outlook reflects growing confidence among analysts regarding the company’s future performance. In addition, other financial experts have also expressed optimism about Bristow Group’s stock. Notably, Wall Street Zen upgraded their rating from “hold” to “buy,” further solidifying the stock’s attractiveness to investors.
In a separate report, Weiss Ratings reaffirmed a “buy (B-)” rating for Bristow Group. Currently, two analysts have assigned a “buy” rating to the stock, while data from MarketBeat.com indicates that Bristow Group holds an average rating of “buy.”
Stock Performance and Financial Metrics
As of the close on October 20, 2023, shares of Bristow Group opened at $43.74. The company boasts a quick ratio of 1.53, a current ratio of 1.91, and a debt-to-equity ratio of 0.63. Over the past year, the stock has fluctuated between a low of $25.11 and a high of $44.55. The average price over the last 50 days stands at $37.86, while the 200-day moving average is $37.61.
Bristow Group’s market capitalization is approximately $1.26 billion, and it has a price-to-earnings ratio of 9.15. The company recently reported its quarterly earnings on November 5, 2023, revealing earnings per share (EPS) of $1.72, surpassing analyst expectations of $0.94 by a notable $0.78. Furthermore, Bristow Group recorded a return on equity of 14.83% and a net margin of 9.71%, although revenue for the quarter was $386.29 million, slightly below the anticipated $400.00 million.
Insider Transactions and Institutional Investments
In recent insider trading activities, Robert Manzo, a director at Bristow Group, sold 6,000 shares on November 11, 2023, at an average price of $38.75, totaling $232,500. Following this transaction, Manzo now holds 32,583 shares valued at approximately $1,262,591.25, marking a 15.55% decrease in his ownership. Additionally, director Lorin L. Brass sold 2,500 shares on November 26, 2023, for $95,000, decreasing his ownership by 10.33%.
In the past three months, insiders have sold a total of 221,000 shares valued at around $8,417,775. Currently, corporate insiders own 13.40% of the company’s stock.
Several hedge funds and institutional investors have also recently adjusted their positions in Bristow Group. For instance, Vanguard Group Inc. increased its stake by 4.8% in the third quarter, owning 1,984,961 shares valued at approximately $71.62 million after acquiring an additional 91,116 shares. Similarly, Dimensional Fund Advisors LP and Taconic Capital Advisors LP have also increased their holdings, contributing to a growing institutional interest in the company.
Overall, institutional investors hold a substantial 93.29% of Bristow Group’s stock, reflecting strong confidence in the company’s future prospects.
Bristow Group operates as a global provider of helicopter services primarily for the offshore energy sector, along with search-and-rescue operations. The company specializes in the transportation of personnel, equipment, and emergency response services, crucial for maintaining continuity in the energy industry amidst challenging conditions. With a diverse fleet of turbine-powered helicopters, including notable models such as the Sikorsky S-92 and Airbus H225, Bristow Group remains positioned to support critical operations worldwide.
