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

Key Points

• Wall Street Zen upgraded CoreCivic from “hold” to “buy,” joining several analysts who recently raised ratings or price targets. The stock has a consensus “Buy” rating and an average price target of $37.00.
• CoreCivic shares opened at $32.33, near their 12-month high of $34.00, with a market capitalization of approximately $3.20 billion.
• Institutional ownership is substantial at 85.13%. BlackRock and several other institutions established or expanded positions during the second quarter.

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

Several other research analysts have also commented on the stock. Northland Securities set a $40.00 price objective on shares of CoreCivic in a research note on Friday, June 26th. Benchmark upped their target price on shares of CoreCivic from $41.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday. Weiss Ratings upgraded shares of CoreCivic from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, July 1st. Noble Financial increased their target price on shares of CoreCivic from $28.00 to $35.00 and gave the stock an "outperform" rating in a report on Tuesday, July 7th. Finally, UBS Group set a $35.00 price objective on shares of CoreCivic in a report on Tuesday, July 7th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $37.00.

CoreCivic Stock Performance

Shares of CoreCivic stock opened at $32.33 on Monday. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 25.86 and a beta of 0.58. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.32 and a quick ratio of 1.32. The business has a 50-day moving average of $29.22 and a 200 day moving average of $22.93. CoreCivic has a 12 month low of $15.73 and a 12 month high of $34.00.

Hedge Funds Weigh In On CoreCivic

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in CoreCivic during the 2nd quarter worth approximately $480,557,000. Deutsche Bank AG acquired a new stake in shares of CoreCivic in the second quarter valued at approximately $18,805,000. Persistent Asset Partners Ltd purchased a new position in shares of CoreCivic during the second quarter worth approximately $52,000. SCS Capital Management LLC purchased a new position in shares of CoreCivic during the second quarter worth approximately $304,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of CoreCivic in the 2nd quarter valued at $18,516,000. 85.13% of the stock is currently owned by hedge funds and other institutional investors.

CoreCivic Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source