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

CoreCivic (NYSE:CXW) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

CXW has been the subject of several other research reports. Noble Financial upgraded CoreCivic from a “market perform” rating to an “outperform” rating in a research report on Wednesday, February 12th. Wedbush restated an “outperform” rating and set a $30.00 target price on shares of CoreCivic in a research report on Tuesday, February 11th.

CoreCivic Trading Down 0.0%

CXW opened at $21.92 on Friday. The firm has a market cap of $2.39 billion, a P/E ratio of 35.93 and a beta of 0.79. CoreCivic has a 12 month low of $10.74 and a 12 month high of $24.99. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 0.65. The stock has a 50-day moving average of $21.18 and a 200 day moving average of $20.76.

CoreCivic (NYSE:CXW) last released its quarterly earnings results on Wednesday, May 7th. The real estate investment trust reported $0.45 EPS for the quarter, topping the consensus estimate of $0.35 by $0.10. The company had revenue of $488.60 million during the quarter, compared to analyst estimates of $478.49 million. CoreCivic had a return on equity of 5.97% and a net margin of 3.51%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.46 earnings per share. As a group, research analysts forecast that CoreCivic will post 1.5 EPS for the current year.

Insider Buying and Selling at CoreCivic

In related news, EVP Lucibeth Mayberry sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $21.49, for a total value of $1,611,750.00. Following the completion of the sale, the executive vice president now owns 211,232 shares in the company, valued at approximately $4,539,375.68. The trade was a 26.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.30% of the company’s stock.

Institutional Trading of CoreCivic

A number of large investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of CoreCivic by 10.0% in the first quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 470 shares during the period. Bank of Montreal Can boosted its holdings in shares of CoreCivic by 8.0% in the fourth quarter. Bank of Montreal Can now owns 12,742 shares of the real estate investment trust’s stock valued at $277,000 after purchasing an additional 944 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of CoreCivic by 2.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,000 shares of the real estate investment trust’s stock valued at $1,348,000 after purchasing an additional 1,322 shares during the period. State of Wyoming boosted its holdings in shares of CoreCivic by 7.5% in the fourth quarter. State of Wyoming now owns 20,796 shares of the real estate investment trust’s stock valued at $452,000 after purchasing an additional 1,443 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in CoreCivic by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 57,312 shares of the real estate investment trust’s stock worth $1,246,000 after buying an additional 1,450 shares in the last quarter. 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.