CoreCivic (NYSE:CXW) Receives Buy Rating from JonesTrading

CoreCivic (NYSE:CXW)‘s stock had its “buy” rating reissued by equities researchers at JonesTrading in a note issued to investors on Wednesday,Benzinga reports. They currently have a $30.00 target price on the real estate investment trust’s stock. JonesTrading’s target price indicates a potential downside of 1.86% from the company’s current price.

A number of other equities analysts also recently commented on the company. Benchmark lifted their price objective on CoreCivic from $36.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. UBS Group set a $35.00 target price on CoreCivic in a report on Tuesday, July 7th. Northland Securities set a $40.00 target price on CoreCivic in a research note on Friday, June 26th. Wall Street Zen lowered CoreCivic from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Noble Financial boosted their price target on shares of CoreCivic from $28.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, CoreCivic currently has an average rating of “Buy” and a consensus target price of $36.20.

CoreCivic Price Performance

Shares of CoreCivic stock traded up $0.42 on Wednesday, hitting $30.57. 725,485 shares of the company were exchanged, compared to its average volume of 1,148,558. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.99. The company has a 50-day moving average price of $28.58 and a 200 day moving average price of $22.68. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 24.87 and a beta of 0.58. CoreCivic has a 1-year low of $15.73 and a 1-year high of $32.69.

Institutional Trading of CoreCivic

Institutional investors and hedge funds have recently bought and sold shares of the stock. Summit Global Investments acquired a new position in CoreCivic in the second quarter valued at about $490,000. Handelsbanken Fonder AB increased its position in shares of CoreCivic by 9.5% during the second quarter. Handelsbanken Fonder AB now owns 24,300 shares of the real estate investment trust’s stock valued at $738,000 after acquiring an additional 2,100 shares during the last quarter. Bank of America Corp DE raised its stake in shares of CoreCivic by 43.6% in the 1st quarter. Bank of America Corp DE now owns 236,346 shares of the real estate investment trust’s stock valued at $4,469,000 after acquiring an additional 71,756 shares during the period. Rubric Capital Management LP raised its stake in shares of CoreCivic by 5.0% in the 1st quarter. Rubric Capital Management LP now owns 2,059,216 shares of the real estate investment trust’s stock valued at $38,940,000 after acquiring an additional 97,770 shares during the period. Finally, Empowered Funds LLC acquired a new position in shares of CoreCivic in the 1st quarter worth approximately $4,785,000. 85.13% of the stock is currently owned by hedge funds and other institutional investors.

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.