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

CoreCivic (NYSE:CXW) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Other equities analysts also recently issued research reports about the company. Noble Financial upgraded CoreCivic from a “market perform” rating to an “outperform” rating in a report on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and issued a $30.00 target price on shares of CoreCivic in a report on Tuesday, February 11th. Finally, Northland Securities boosted their target price on shares of CoreCivic from $17.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th.

CoreCivic Price Performance

CXW opened at $18.93 on Wednesday. The stock has a fifty day moving average price of $20.69 and a 200 day moving average price of $17.68. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 0.65. CoreCivic has a 1 year low of $10.74 and a 1 year high of $24.99. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 31.03 and a beta of 1.00.

CoreCivic (NYSE:CXW) last issued its quarterly earnings data on Monday, February 10th. The real estate investment trust reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.06. CoreCivic had a net margin of 3.51% and a return on equity of 5.97%. Analysts forecast that CoreCivic will post 1.5 EPS for the current fiscal year.

Hedge Funds Weigh In On CoreCivic

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. abrdn plc increased its holdings in shares of CoreCivic by 8.7% during the 3rd quarter. abrdn plc now owns 1,031,400 shares of the real estate investment trust’s stock worth $13,047,000 after purchasing an additional 82,500 shares during the period. River Road Asset Management LLC grew its position in CoreCivic by 0.5% during the third quarter. River Road Asset Management LLC now owns 8,611,640 shares of the real estate investment trust’s stock worth $108,937,000 after buying an additional 40,365 shares in the last quarter. Hourglass Capital LLC lifted its position in shares of CoreCivic by 2.1% in the 3rd quarter. Hourglass Capital LLC now owns 121,380 shares of the real estate investment trust’s stock worth $1,535,000 after acquiring an additional 2,490 shares during the period. Chesapeake Capital Corp IL acquired a new stake in shares of CoreCivic during the 3rd quarter worth approximately $139,000. Finally, Quest Partners LLC increased its position in shares of CoreCivic by 24,217.1% during the third quarter. Quest Partners LLC now owns 17,022 shares of the real estate investment trust’s stock valued at $215,000 after purchasing an additional 16,952 shares during the period. Institutional investors own 85.13% of the company’s stock.

CoreCivic Company Profile

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.