CoreCivic (NYSE:CXW) Given New $41.00 Price Target at Benchmark

CoreCivic (NYSE:CXW) had its target price raised by Benchmark from $36.00 to $41.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Benchmark’s price target would indicate a potential upside of 29.99% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings upgraded shares of CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, July 1st. Wall Street Zen downgraded shares of CoreCivic from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Northland Securities set a $40.00 target price on CoreCivic in a report on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $37.00.

CoreCivic Trading Up 3.7%

Shares of CoreCivic stock opened at $31.54 on Tuesday. The stock has a market cap of $3.12 billion, a P/E ratio of 25.04 and a beta of 0.57. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.99. CoreCivic has a 12-month low of $15.73 and a 12-month high of $32.60. The business’s 50 day moving average is $24.32 and its 200-day moving average is $20.97.

Institutional Investors Weigh In On CoreCivic

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of CoreCivic by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 12,713,519 shares of the real estate investment trust’s stock valued at $242,955,000 after purchasing an additional 138,846 shares in the last quarter. Lee Danner & Bass Inc. raised its holdings in shares of CoreCivic by 20.1% during the 4th quarter. Lee Danner & Bass Inc. now owns 582,558 shares of the real estate investment trust’s stock worth $11,133,000 after buying an additional 97,413 shares in the last quarter. Aberdeen Group plc raised its holdings in shares of CoreCivic by 60.1% during the 4th 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. JPMorgan Chase & Co. lifted its position in shares of CoreCivic by 24.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 372,018 shares of the real estate investment trust’s stock worth $7,571,000 after buying an additional 73,145 shares during the last quarter. Finally, Kestrel Investment Management Corp bought a new stake in shares of CoreCivic during the 4th quarter worth $5,601,000. 85.13% of the stock is currently owned by institutional investors and hedge funds.

CoreCivic Company Profile

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.