SunTrust Banks Reaffirms “Buy” Rating for The GEO Group (NYSE:GEO)

The GEO Group (NYSE:GEO)‘s stock had its “buy” rating restated by stock analysts at SunTrust Banks in a report issued on Wednesday, January 31st. They currently have a $32.00 price target on the real estate investment trust’s stock. SunTrust Banks’ price objective would indicate a potential upside of 58.49% from the company’s previous close. SunTrust Banks also issued estimates for The GEO Group’s FY2019 earnings at $1.93 EPS.

Several other brokerages also recently commented on GEO. Zacks Investment Research downgraded shares of The GEO Group from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. TheStreet upgraded shares of The GEO Group from a “c+” rating to a “b-” rating in a report on Tuesday, November 28th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $33.47.

Shares of The GEO Group (NYSE GEO) traded up $0.15 during mid-day trading on Wednesday, hitting $20.19. 1,267,615 shares of the stock traded hands, compared to its average volume of 973,994. The stock has a market capitalization of $2,500.00, a P/E ratio of 14.85, a P/E/G ratio of 1.68 and a beta of 1.32. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.27 and a current ratio of 1.27. The GEO Group has a 52 week low of $19.52 and a 52 week high of $34.32.

In related news, Director Christopher C. Wheeler sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $25.09, for a total transaction of $37,635.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.40% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of GEO. Advisor Group Inc. increased its stake in shares of The GEO Group by 54.0% in the second quarter. Advisor Group Inc. now owns 4,344 shares of the real estate investment trust’s stock worth $126,000 after purchasing an additional 1,524 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of The GEO Group by 50.0% in the second quarter. Toronto Dominion Bank now owns 6,901 shares of the real estate investment trust’s stock worth $204,000 after purchasing an additional 2,300 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of The GEO Group in the third quarter worth about $248,000. Public Employees Retirement System of Ohio increased its stake in shares of The GEO Group by 52.3% in the second quarter. Public Employees Retirement System of Ohio now owns 8,844 shares of the real estate investment trust’s stock worth $262,000 after purchasing an additional 3,036 shares in the last quarter. Finally, First Citizens Bank & Trust Co. purchased a new position in shares of The GEO Group in the fourth quarter worth about $265,000. Hedge funds and other institutional investors own 95.95% of the company’s stock.

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The GEO Group Company Profile

The GEO Group, Inc is a real estate investment trust (REIT) specializing in the ownership, leasing and management of correctional, detention and re-entry facilities and the provision of community-based services and youth services in the United States, Australia, South Africa, the United Kingdom and Canada.

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