CoreCivic (NYSE:CXW) Cut to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded CoreCivic from “buy” to “hold,” although other analysts remain broadly positive, with an average “Buy” rating and a $36.20 target price.
• CoreCivic shares opened at $29.86, up 0.2%, and have risen well above their 1-year low of $15.73 while remaining below the 1-year high of $32.69.
• Institutional investors and hedge funds own 85.13% of CoreCivic’s stock, with several firms recently increasing their holdings or initiating new positions.

CoreCivic (NYSE:CXW - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Sunday.

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

CoreCivic Trading Up 0.2%

Shares of CXW opened at $29.86 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.44 and a quick ratio of 2.44. The company has a 50-day moving average of $28.22 and a 200 day moving average of $22.51. CoreCivic has a 1-year low of $15.73 and a 1-year high of $32.69. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 24.28 and a beta of 0.57.

Institutional Trading of CoreCivic

Hedge funds have recently bought and sold shares of the company. NBC Securities Inc. raised 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 valued at $28,000 after acquiring an additional 1,228 shares during the last quarter. Leonteq Securities AG acquired a new position in CoreCivic in the fourth quarter valued at $57,000. Smartleaf Asset Management LLC increased its stake in CoreCivic by 33.0% in the second quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust's stock valued at $59,000 after purchasing an additional 702 shares during the last quarter. Fifth Third Bancorp lifted its position in CoreCivic by 320.7% during the fourth quarter. Fifth Third Bancorp now owns 3,340 shares of the real estate investment trust's stock worth $64,000 after buying an additional 2,546 shares during the period. Finally, Kestra Advisory Services LLC acquired a new stake in CoreCivic in the 4th quarter worth about $71,000. Institutional investors and hedge funds 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.

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