CoreCivic (NYSE:CXW) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded CoreCivic (NYSE:CXW) from "hold" to "buy"; overall analyst mix is three Buys and one Hold with a consensus target price of $32.00.
• CoreCivic reported a quarterly beat — $0.52 EPS vs. $0.43 expected and $603.95M revenue vs. $585.12M expected, with revenue up 26% year‑over‑year and analysts forecasting about $1.50 EPS for the fiscal year.
• Shares traded around $20.51 with a market cap of $2.03B and a P/E of 18.99, a 52‑week range of $15.73–$23.54, and high institutional ownership at roughly 85%.

CoreCivic (NYSE:CXW - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Sunday.

A number of other analysts have also weighed in on CXW. JonesTrading reaffirmed a "buy" rating and set a $30.00 target price on shares of CoreCivic in a report on Friday, February 13th. Benchmark began coverage on shares of CoreCivic in a report on Tuesday, March 24th. They set a "buy" rating and a $28.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, CoreCivic currently has an average rating of "Moderate Buy" and a consensus target price of $32.00.

CoreCivic Stock Performance

Shares of CoreCivic stock opened at $20.51 on Friday. The company's 50 day moving average price is $18.94 and its two-hundred day moving average price is $18.73. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a market capitalization of $2.03 billion, a P/E ratio of 18.99 and a beta of 0.61. CoreCivic has a fifty-two week low of $15.73 and a fifty-two week high of $23.54.

CoreCivic (NYSE:CXW - Get Free Report) last posted its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.09. The business had revenue of $603.95 million for the quarter, compared to analyst estimates of $585.12 million. CoreCivic had a net margin of 5.27% and a return on equity of 8.17%. CoreCivic's revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 EPS. On average, equities analysts forecast that CoreCivic will post 1.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CoreCivic

Institutional investors have recently made changes to their positions in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of CoreCivic in the 3rd quarter worth $1,195,000. Aberdeen Group plc increased its holdings in shares of CoreCivic by 44.5% in the 3rd quarter. Aberdeen Group plc now owns 604,774 shares of the real estate investment trust's stock worth $13,027,000 after buying an additional 186,174 shares during the last quarter. Y Intercept Hong Kong Ltd increased its holdings in shares of CoreCivic by 126.3% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 173,354 shares of the real estate investment trust's stock worth $3,528,000 after buying an additional 96,750 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of CoreCivic by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,574,673 shares of the real estate investment trust's stock worth $255,895,000 after buying an additional 183,923 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in shares of CoreCivic by 13.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,856,230 shares of the real estate investment trust's stock worth $37,774,000 after buying an additional 224,747 shares during the last quarter. Institutional investors 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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