Corecivic (CXW) Downgraded by Zacks Investment Research to Sell

Corecivic (NYSE:CXW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

According to Zacks, “CoreCivic, Inc. is a real estate investment trust which provides correctional, detention and residential reentry facilities. It designs, constructs, owns, manages and renovates jails, prisons, government agencies and inmate transportation companies. CoreCivic, Inc., formerly known as Corrections Corporation of America, is based in Nashville, Tennessee. “

CXW has been the topic of several other research reports. SunTrust Banks reiterated a “buy” rating and issued a $37.00 target price on shares of Corecivic in a report on Friday, November 10th. ValuEngine downgraded shares of Corecivic from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $33.25.

Shares of Corecivic (NYSE CXW) traded up $1.04 on Tuesday, reaching $21.26. 1,622,317 shares of the company traded hands, compared to its average volume of 1,041,827. The company has a market cap of $2,510.00, a P/E ratio of 12.73, a PEG ratio of 1.50 and a beta of 0.85. Corecivic has a 12-month low of $19.59 and a 12-month high of $35.33. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.97.

Several institutional investors have recently modified their holdings of CXW. Advisory Services Network LLC boosted its position in Corecivic by 115.0% in the second quarter. Advisory Services Network LLC now owns 4,093 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 2,189 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in Corecivic by 152.7% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,818 shares of the real estate investment trust’s stock valued at $156,000 after buying an additional 3,516 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Corecivic in the fourth quarter valued at about $173,000. Lourd Capital LLC acquired a new position in Corecivic in the fourth quarter valued at about $201,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Corecivic by 8.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 8,272 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 629 shares in the last quarter. Institutional investors and hedge funds own 82.33% of the company’s stock.

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Corecivic Company Profile

CoreCivic, Inc, formerly Corrections Corporation of America, is a diversified government solutions company. The Company provides partnership correctional, detention and residential reentry facilities and operates prison in the United States. The Company’s business offerings include CoreCivic Safety, CoreCivic Properties, and CoreCivic Community.

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