Wall Street Zen Upgrades CoreCivic (NYSE:CXW) to Buy

CoreCivic (NYSE:CXW) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Other analysts also recently issued research reports about the stock. Noble Financial raised 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. Northland Securities set a $40.00 price objective on CoreCivic in a research report on Friday, June 26th. UBS Group set a $35.00 target price on CoreCivic in a research note on Tuesday, July 7th. Weiss Ratings raised CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, July 1st. Finally, Benchmark upped their price target on CoreCivic from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, CoreCivic has a consensus rating of “Buy” and a consensus price target of $36.20.

CoreCivic Price Performance

Shares of CXW stock 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 firm’s 50-day moving average is $27.32 and its two-hundred day moving average is $22.14. CoreCivic has a 12 month low of $15.73 and a 12 month high of $32.69. The company has a market capitalization of $3.09 billion, a PE ratio of 25.43 and a beta of 0.57.

Institutional Investors Weigh In On CoreCivic

Large investors have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its holdings in shares of CoreCivic by 1.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 31,880 shares of the real estate investment trust’s stock valued at $603,000 after purchasing an additional 510 shares in the last quarter. State of Wyoming grew its stake in shares of CoreCivic by 3.1% during the first quarter. State of Wyoming now owns 22,172 shares of the real estate investment trust’s stock worth $419,000 after purchasing an additional 659 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of CoreCivic by 33.0% during the second quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 702 shares in the last quarter. Bessemer Group Inc. increased its holdings in CoreCivic by 0.4% in the first quarter. Bessemer Group Inc. now owns 166,475 shares of the real estate investment trust’s stock valued at $3,148,000 after buying an additional 742 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings in CoreCivic by 10.4% in the second quarter. Lazard Asset Management LLC now owns 10,595 shares of the real estate investment trust’s stock valued at $223,000 after buying an additional 1,002 shares during the last quarter. 85.13% of the stock is owned by hedge funds and other institutional investors.

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.