CoreCivic (NYSE:CXW) Upgraded at StockNews.com

StockNews.com upgraded shares of CoreCivic (NYSE:CXW) from a hold rating to a buy rating in a research report released on Wednesday morning.

CXW has been the topic of a number of other research reports. Noble Financial upgraded shares of CoreCivic from a “market perform” rating to an “outperform” rating in a research note on Wednesday, February 12th. Wedbush reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of CoreCivic in a research note on Tuesday, February 11th.

CoreCivic Price Performance

NYSE CXW opened at $21.88 on Wednesday. The business’s fifty day moving average is $20.89 and its 200 day moving average is $20.45. CoreCivic has a fifty-two week low of $10.74 and a fifty-two week high of $24.99. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.51 and a current ratio of 1.57. The company has a market capitalization of $2.39 billion, a PE ratio of 35.87 and a beta of 0.79.

CoreCivic (NYSE:CXW) last posted its quarterly earnings data on Wednesday, May 7th. The real estate investment trust reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.10. CoreCivic had a return on equity of 5.97% and a net margin of 3.51%. The firm had revenue of $488.60 million for the quarter, compared to analysts’ expectations of $478.49 million. During the same period in the previous year, the firm earned $0.46 EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis. Sell-side analysts predict that CoreCivic will post 1.5 earnings per share for the current year.

Institutional Trading of CoreCivic

Hedge funds have recently bought and sold shares of the stock. Barclays PLC lifted its position in shares of CoreCivic by 312.4% in the third quarter. Barclays PLC now owns 184,332 shares of the real estate investment trust’s stock worth $2,331,000 after buying an additional 139,631 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of CoreCivic by 11.4% during the 4th quarter. Allianz Asset Management GmbH now owns 1,513,031 shares of the real estate investment trust’s stock valued at $32,893,000 after acquiring an additional 154,426 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of CoreCivic in the fourth quarter valued at $1,477,000. Nebula Research & Development LLC bought a new stake in CoreCivic in the fourth quarter worth $361,000. Finally, Teacher Retirement System of Texas purchased a new stake in CoreCivic during the fourth quarter valued at $4,582,000. Hedge funds and other 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.