CoreCivic (NYSE:CXW) Upgraded by StockNews.com to “Buy” Rating

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

Several other equities research analysts have also recently issued reports on CXW. Noble Financial raised shares of CoreCivic from a “market perform” rating to an “outperform” rating in a research report on Wednesday, February 12th. Wedbush reissued an “outperform” rating and issued a $30.00 price objective on shares of CoreCivic in a research note on Tuesday, February 11th.

CoreCivic Stock Down 0.6 %

Shares of NYSE:CXW opened at $21.88 on Wednesday. The firm has a market capitalization of $2.39 billion, a PE ratio of 35.87 and a beta of 0.79. The business has a 50 day simple moving average of $20.89 and a two-hundred day simple moving average of $20.45. CoreCivic has a 1 year low of $10.74 and a 1 year high of $24.99. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.57 and a quick ratio of 1.51.

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

Institutional Investors Weigh In On CoreCivic

Large investors have recently modified their holdings of the business. Barclays PLC boosted its stake in shares of CoreCivic by 312.4% during the third quarter. Barclays PLC now owns 184,332 shares of the real estate investment trust’s stock valued at $2,331,000 after purchasing an additional 139,631 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in CoreCivic by 11.4% during the fourth quarter. Allianz Asset Management GmbH now owns 1,513,031 shares of the real estate investment trust’s stock worth $32,893,000 after buying an additional 154,426 shares during the period. Empowered Funds LLC bought a new stake in CoreCivic during the 4th quarter valued at $1,477,000. Nebula Research & Development LLC purchased a new position in shares of CoreCivic in the 4th quarter valued at $361,000. Finally, Teacher Retirement System of Texas bought a new position in shares of CoreCivic in the 4th quarter worth $4,582,000. Institutional investors own 85.13% of the company’s stock.

About CoreCivic

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.