CoreCivic (NYSE:CXW) Coverage Initiated by Analysts at Benchmark

Investment analysts at Benchmark began coverage on shares of CoreCivic (NYSE:CXW) in a report released on Tuesday,Benzinga reports. The firm set a “buy” rating and a $28.00 price target on the real estate investment trust’s stock. Benchmark’s price target would suggest a potential upside of 38.37% from the company’s current price.

CXW has been the subject of several other reports. Wall Street Zen raised CoreCivic from a “hold” rating to a “buy” rating in a report on Sunday, March 8th. JonesTrading reiterated a “buy” rating and set a $30.00 price target on shares of CoreCivic in a research note on Friday, February 13th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $32.00.

CoreCivic Stock Performance

Shares of CXW stock opened at $20.24 on Tuesday. The stock’s 50-day moving average is $18.70 and its two-hundred day moving average is $18.84. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 18.74 and a beta of 0.72. CoreCivic has a 1 year low of $15.73 and a 1 year high of $23.54. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.66 and a current ratio of 1.66.

CoreCivic (NYSE:CXW) last posted its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.16). The firm had revenue of $603.95 million during the quarter, compared to analysts’ expectations of $585.12 million. CoreCivic had a net margin of 5.27% and a return on equity of 8.17%. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 earnings per share. Analysts predict that CoreCivic will post 1.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CXW. Royal Bank of Canada lifted its holdings in shares of CoreCivic by 49.2% during the first quarter. Royal Bank of Canada now owns 59,523 shares of the real estate investment trust’s stock worth $1,207,000 after purchasing an additional 19,630 shares during the period. AQR Capital Management LLC lifted its stake in shares of CoreCivic by 69.8% in the 1st quarter. AQR Capital Management LLC now owns 28,120 shares of the real estate investment trust’s stock worth $571,000 after acquiring an additional 11,557 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of CoreCivic by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,828 shares of the real estate investment trust’s stock worth $1,315,000 after acquiring an additional 2,828 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of CoreCivic by 3,884.2% in the first quarter. Jones Financial Companies Lllp now owns 18,885 shares of the real estate investment trust’s stock valued at $383,000 after acquiring an additional 18,411 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of CoreCivic by 2.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,467 shares of the real estate investment trust’s stock valued at $4,473,000 after acquiring an additional 4,977 shares in the last quarter. Institutional investors and hedge funds own 85.13% of the company’s stock.

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.