StockNews.com Upgrades CoreCivic (NYSE:CXW) to “Buy”

CoreCivic (NYSE:CXW) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

A number of other equities research analysts have also weighed in on the company. Noble Financial raised CoreCivic from a “market perform” rating to an “outperform” rating in a research note on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and issued a $30.00 price objective on shares of CoreCivic in a research report on Tuesday, February 11th. Finally, Northland Securities increased their price objective on CoreCivic from $17.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, November 8th.

CoreCivic Stock Down 0.4 %

Shares of CXW opened at $18.15 on Wednesday. CoreCivic has a 1 year low of $10.74 and a 1 year high of $24.99. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.57 and a quick ratio of 1.51. The stock has a 50 day simple moving average of $20.74 and a two-hundred day simple moving average of $17.68. The firm has a market cap of $2.00 billion, a P/E ratio of 29.76 and a beta of 1.00.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. abrdn plc grew its position in shares of CoreCivic by 8.7% in the 3rd quarter. abrdn plc now owns 1,031,400 shares of the real estate investment trust’s stock worth $13,047,000 after buying an additional 82,500 shares during the last quarter. River Road Asset Management LLC lifted its stake in CoreCivic by 0.5% in the third quarter. River Road Asset Management LLC now owns 8,611,640 shares of the real estate investment trust’s stock worth $108,937,000 after acquiring an additional 40,365 shares during the period. Hourglass Capital LLC boosted its holdings in CoreCivic by 2.1% in the third quarter. Hourglass Capital LLC now owns 121,380 shares of the real estate investment trust’s stock valued at $1,535,000 after acquiring an additional 2,490 shares in the last quarter. Chesapeake Capital Corp IL bought a new stake in CoreCivic in the third quarter valued at $139,000. Finally, Quest Partners LLC increased its position in CoreCivic by 24,217.1% during the 3rd quarter. Quest Partners LLC now owns 17,022 shares of the real estate investment trust’s stock valued at $215,000 after purchasing an additional 16,952 shares during the period. Hedge funds and other institutional investors own 85.13% of the company’s stock.

About CoreCivic

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.