CoreCivic (NYSE:CXW) Upgraded by Wall Street Zen to Buy Rating

CoreCivic (NYSE:CXW) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

CXW has been the topic of several other research reports. Weiss Ratings upgraded CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, July 1st. Northland Securities set a $40.00 price objective on CoreCivic in a research note on Friday, June 26th. UBS Group set a $35.00 target price on CoreCivic in a report on Tuesday, July 7th. Benchmark upped their target price on CoreCivic from $36.00 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, Noble Financial increased their price target on shares of CoreCivic from $28.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, CoreCivic currently has an average rating of “Buy” and an average price target of $36.20.

CoreCivic Price Performance

NYSE CXW opened at $31.28 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.44 and a quick ratio of 2.44. The stock’s fifty day moving average price is $27.32 and its 200 day moving average price is $22.14. CoreCivic has a 1 year low of $15.73 and a 1 year high of $32.69. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 25.43 and a beta of 0.57.

Hedge Funds Weigh In On CoreCivic

A number of hedge funds have recently bought and sold shares of CXW. Vanguard Group Inc. boosted its holdings in shares of CoreCivic by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 12,713,519 shares of the real estate investment trust’s stock worth $242,955,000 after purchasing an additional 138,846 shares during the last quarter. Lee Danner & Bass Inc. increased its holdings in shares of CoreCivic by 20.1% in the fourth quarter. Lee Danner & Bass Inc. now owns 582,558 shares of the real estate investment trust’s stock valued at $11,133,000 after purchasing an additional 97,413 shares during the last quarter. Aberdeen Group plc lifted its position in CoreCivic by 60.1% during the fourth quarter. Aberdeen Group plc now owns 968,300 shares of the real estate investment trust’s stock worth $18,504,000 after buying an additional 363,526 shares in the last quarter. Kestrel Investment Management Corp purchased a new position in CoreCivic during the fourth quarter worth approximately $5,601,000. Finally, KCM Capital Inc acquired a new position in CoreCivic during the first quarter worth $10,400,000. Hedge funds and other institutional investors own 85.13% of the company’s stock.

About CoreCivic

CoreCivic, Inc (NYSE: CXW) is a real estate investment trust specializing in the ownership, management and operation of private correctional and detention facilities in the United States. The company enters into contracts with federal, state and local government agencies to house inmates and detainees in facilities that it owns or operates on a concession basis. In addition to traditional prison operations, CoreCivic provides specialized services such as community-based reentry programs, electronic monitoring and rehabilitation initiatives aimed at reducing recidivism.

CoreCivic’s portfolio encompasses a mix of adult correctional facilities, immigration detention centers, residential reentry centers and other community-based programs.