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

Wall Street Zen lowered shares of CoreCivic (NYSE:CXW) from a buy rating to a hold rating in a research report released on Sunday.

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

CoreCivic Stock Performance

Shares of CXW opened at $30.12 on Friday. The business’s fifty day simple moving average is $28.58 and its two-hundred day simple moving average is $22.68. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.99. CoreCivic has a 12 month low of $15.73 and a 12 month high of $32.69. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 24.48 and a beta of 0.58.

Hedge Funds Weigh In On CoreCivic

A number of institutional investors and hedge funds have recently modified their holdings of the company. Summit Global Investments purchased a new stake in CoreCivic during the second quarter valued at $490,000. Handelsbanken Fonder AB boosted its position in CoreCivic by 9.5% in the second quarter. Handelsbanken Fonder AB now owns 24,300 shares of the real estate investment trust’s stock worth $738,000 after purchasing an additional 2,100 shares during the last quarter. Bank of America Corp DE boosted its position in CoreCivic by 43.6% in the first quarter. Bank of America Corp DE now owns 236,346 shares of the real estate investment trust’s stock worth $4,469,000 after purchasing an additional 71,756 shares during the last quarter. Rubric Capital Management LP grew its stake in shares of CoreCivic by 5.0% during the 1st quarter. Rubric Capital Management LP now owns 2,059,216 shares of the real estate investment trust’s stock valued at $38,940,000 after purchasing an additional 97,770 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of CoreCivic during the 1st quarter valued at about $4,785,000. 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.