CoreCivic (NYSE:CXW) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of CoreCivic (NYSE:CXW) from a hold rating to a buy rating in a report released on Saturday.

Other research analysts also recently issued research reports about the company. Northland Securities set a $40.00 price objective on CoreCivic in a research note on Friday, June 26th. UBS Group set a $35.00 price objective on CoreCivic in a research note on Tuesday, July 7th. Noble Financial increased their target price on shares of CoreCivic from $28.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Benchmark increased their target price on shares of CoreCivic from $36.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Finally, Weiss Ratings upgraded shares of CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, July 1st. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, CoreCivic currently has a consensus rating of “Buy” and a consensus price target of $36.20.

CoreCivic Price Performance

Shares of CoreCivic stock opened at $31.28 on Friday. The stock has a market cap of $3.09 billion, a P/E ratio of 25.43 and a beta of 0.57. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.44 and a current ratio of 2.44. The stock’s fifty day moving average is $27.32 and its 200 day moving average is $22.14. CoreCivic has a one year low of $15.73 and a one year high of $32.69.

Institutional Trading of CoreCivic

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NBC Securities Inc. lifted its holdings in CoreCivic by 533.9% in the 4th quarter. NBC Securities Inc. now owns 1,458 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 1,228 shares in the last quarter. Leonteq Securities AG purchased a new stake in CoreCivic during the 4th quarter valued at approximately $57,000. Smartleaf Asset Management LLC grew its holdings in CoreCivic by 33.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 702 shares in the last quarter. Fifth Third Bancorp raised its position in shares of CoreCivic by 320.7% during the fourth quarter. Fifth Third Bancorp now owns 3,340 shares of the real estate investment trust’s stock valued at $64,000 after buying an additional 2,546 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of CoreCivic during the fourth quarter valued at approximately $71,000. Institutional investors own 85.13% of the company’s stock.

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.