CoreCivic (NYSE:CXW) Upgraded to Outperform by Wedbush

CoreCivic (NYSE:CXW – Get Rating) was upgraded by research analysts at Wedbush from a “neutral” rating to an “outperform” rating in a research note issued on Thursday, The Fly reports. The brokerage currently has a $17.00 price objective on the real estate investment trust’s stock. Wedbush’s price target would indicate a potential upside of 45.30% from the company’s current price.

Separately, StockNews.com started coverage on CoreCivic in a research note on Thursday, March 31st. They set a “buy” rating on the stock.

Shares of CXW opened at $11.70 on Thursday. CoreCivic has a 12-month low of $7.37 and a 12-month high of $12.35. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -26.59 and a beta of 1.00. The stock’s 50-day moving average price is $9.82 and its 200 day moving average price is $9.94.

CoreCivic (NYSE:CXW – Get Rating) last issued its quarterly earnings results on Tuesday, February 8th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. CoreCivic had a positive return on equity of 9.54% and a negative net margin of 2.79%. During the same quarter last year, the business earned $0.63 EPS. Equities research analysts expect that CoreCivic will post 1.65 EPS for the current year.

In related news, Director Mark A. Emkes acquired 10,000 shares of the stock in a transaction dated Tuesday, March 8th. The shares were bought at an average cost of $8.52 per share, for a total transaction of $85,200.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.38% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CXW. Counterpoint Mutual Funds LLC bought a new stake in shares of CoreCivic in the 4th quarter valued at approximately $25,000. Point72 Hong Kong Ltd acquired a new position in shares of CoreCivic in the 3rd quarter worth approximately $29,000. Allspring Global Investments Holdings LLC acquired a new position in shares of CoreCivic in the 4th quarter worth approximately $75,000. Acadian Asset Management LLC acquired a new position in shares of CoreCivic in the 4th quarter worth approximately $96,000. Finally, Roosevelt Investment Group LLC acquired a new position in shares of CoreCivic in the 4th quarter worth approximately $100,000. Institutional investors own 83.03% of the company’s stock.

About CoreCivic (Get Rating)

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.

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