CoreCivic (NYSE:CXW) Downgraded by Wall Street Zen to Hold

Key Points

• CoreCivic (NYSE:CXW) was downgraded by Wall Street Zen from a buy to a hold.
• Analyst consensus remains a Moderate Buy (three Buys, one Hold) with an average price target of $32.00.
• The company beat quarterly expectations — EPS $0.52 vs. $0.43 estimate and revenue $603.95M vs. $585.12M — with revenue up 26% year‑over‑year.

CoreCivic (NYSE:CXW - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Other research analysts have also recently issued reports about the company. JonesTrading reaffirmed a "buy" rating and set a $30.00 price objective on shares of CoreCivic in a research report on Friday, February 13th. Benchmark began coverage on CoreCivic in a research note on Tuesday, March 24th. They set a "buy" rating and a $28.00 price objective for the company. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $32.00.

CoreCivic Price Performance

CXW stock opened at $19.92 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $1.97 billion, a PE ratio of 18.44 and a beta of 0.61. CoreCivic has a 12-month low of $15.73 and a 12-month high of $23.54. The business's fifty day moving average price is $18.79 and its 200 day moving average price is $18.79.

CoreCivic (NYSE:CXW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.09. CoreCivic had a return on equity of 8.17% and a net margin of 5.27%.The firm had revenue of $603.95 million for the quarter, compared to the consensus estimate of $585.12 million. During the same quarter in the previous year, the business earned $0.39 EPS. The company's quarterly revenue was up 26.0% compared to the same quarter last year. On average, sell-side analysts anticipate that CoreCivic will post 1.5 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. NBC Securities Inc. raised its position in CoreCivic by 533.9% in the fourth quarter. NBC Securities Inc. now owns 1,458 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 1,228 shares during the period. Covestor Ltd grew its stake in CoreCivic by 31,516.7% in the third quarter. Covestor Ltd now owns 1,897 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 1,891 shares in the last quarter. Smartleaf Asset Management LLC boosted 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 acquiring an additional 702 shares during the period. Leonteq Securities AG acquired a new position in CoreCivic in the fourth quarter valued at approximately $57,000. Finally, Fifth Third Bancorp boosted its stake in CoreCivic by 320.7% in the fourth quarter. Fifth Third Bancorp now owns 3,340 shares of the real estate investment trust's stock valued at $64,000 after acquiring an additional 2,546 shares during the period. 85.13% of the stock is 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.

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