CoreCivic (NYSE:CXW) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of CoreCivic (NYSE:CXW) from a hold rating to a buy rating in a report issued on Wednesday morning.

Several other analysts have also recently issued reports on the company. Wedbush reiterated an “outperform” rating and set a $30.00 target price on shares of CoreCivic in a research report on Tuesday, February 11th. Noble Financial upgraded CoreCivic from a “market perform” rating to an “outperform” rating in a research report on Wednesday, February 12th. Finally, Northland Securities increased their target price on CoreCivic from $17.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th.

CoreCivic Stock Performance

Shares of CXW opened at $18.12 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 0.65. The business has a 50-day simple moving average of $20.69 and a two-hundred day simple moving average of $17.68. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 29.70 and a beta of 1.00. CoreCivic has a 52 week low of $10.74 and a 52 week high of $24.99.

CoreCivic (NYSE:CXW) last released its earnings results on Monday, February 10th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.06. CoreCivic had a return on equity of 5.97% and a net margin of 3.51%. On average, analysts expect that CoreCivic will post 1.5 EPS for the current year.

Hedge Funds Weigh In On CoreCivic

Institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new position in CoreCivic during the 4th quarter valued at approximately $43,000. Smartleaf Asset Management LLC grew its holdings in CoreCivic by 318.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,442 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 1,859 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in CoreCivic by 86,300.0% during the 4th quarter. Russell Investments Group Ltd. now owns 4,320 shares of the real estate investment trust’s stock valued at $94,000 after buying an additional 4,315 shares in the last quarter. GAMMA Investing LLC grew its holdings in CoreCivic by 25.5% during the 4th quarter. GAMMA Investing LLC now owns 4,686 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 953 shares in the last quarter. Finally, KBC Group NV grew its holdings in CoreCivic by 57.3% during the 4th quarter. KBC Group NV now owns 5,477 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 1,995 shares in the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.

CoreCivic Company Profile

CoreCivic, Inc owns and operates partnership correctional, detention, and residential reentry facilities in the United States. It operates through three segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. The company provides a range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions.