CoreCivic (NYSE:CXW) Reaches New 52-Week High – Time to Buy?

Shares of CoreCivic, Inc. (NYSE:CXW) reached a new 52-week high on Monday . The company traded as high as $31.66 and last traded at $32.3690, with a volume of 794336 shares. The stock had previously closed at $31.03.

Analyst Upgrades and Downgrades

CXW has been the subject of several research analyst reports. Noble Financial upped their target price on shares of CoreCivic from $28.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday. Northland Securities set a $40.00 price target on shares of CoreCivic in a research note on Friday, June 26th. Wall Street Zen cut shares of CoreCivic from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded shares of CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, July 1st. Finally, UBS Group set a $35.00 target price on CoreCivic in a research report on Tuesday. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $36.20.

CoreCivic Trading Down 3.7%

The business’s 50-day moving average price is $24.49 and its 200-day moving average price is $21.04. The firm has a market capitalization of $2.90 billion, a PE ratio of 23.81 and a beta of 0.57. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.44 and a quick ratio of 2.44.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CXW. Royal Bank of Canada boosted its stake in shares of CoreCivic by 49.2% during the first quarter. Royal Bank of Canada now owns 59,523 shares of the real estate investment trust’s stock worth $1,207,000 after buying an additional 19,630 shares during the period. AQR Capital Management LLC raised its stake in CoreCivic by 69.8% during the 1st quarter. AQR Capital Management LLC now owns 28,120 shares of the real estate investment trust’s stock valued at $571,000 after acquiring an additional 11,557 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in CoreCivic by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,828 shares of the real estate investment trust’s stock worth $1,315,000 after acquiring an additional 2,828 shares during the period. Jones Financial Companies Lllp lifted its position in CoreCivic by 3,884.2% during the 1st quarter. Jones Financial Companies Lllp now owns 18,885 shares of the real estate investment trust’s stock worth $383,000 after acquiring an additional 18,411 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in CoreCivic by 2.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,467 shares of the real estate investment trust’s stock worth $4,473,000 after acquiring an additional 4,977 shares during the period. 85.13% of the stock is currently owned by institutional investors and hedge funds.

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.