CoreCivic (CXW) Rating Increased to Buy at Zacks Investment Research

CoreCivic (NYSE:CXW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $23.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.52% from the company’s current price.

According to Zacks, “CoreCivic, Inc. is a real estate investment trust which provides correctional, detention and residential reentry facilities. It designs, constructs, owns, manages and renovates jails, prisons, government agencies and inmate transportation companies. CoreCivic, Inc., formerly known as Corrections Corporation of America, is based in Nashville, Tennessee. “

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CXW has been the subject of a number of other reports. ValuEngine cut CoreCivic from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Deutsche Bank cut their price target on CoreCivic from $35.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, February 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. CoreCivic has a consensus rating of “Buy” and a consensus target price of $32.25.

NYSE CXW opened at $20.44 on Tuesday. CoreCivic has a fifty-two week low of $18.61 and a fifty-two week high of $35.10. The firm has a market capitalization of $2,398.36, a PE ratio of 8.81, a P/E/G ratio of 1.52 and a beta of 0.92. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.99.

CoreCivic (NYSE:CXW) last released its quarterly earnings results on Wednesday, February 14th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.15). CoreCivic had a return on equity of 12.61% and a net margin of 10.08%. The company had revenue of $440.58 million during the quarter, compared to analyst estimates of $429.88 million. research analysts predict that CoreCivic will post 2.23 earnings per share for the current fiscal year.

In other CoreCivic news, Director Mark A. Emkes bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The stock was purchased at an average cost of $21.17 per share, for a total transaction of $105,850.00. Following the completion of the purchase, the director now owns 56,488 shares of the company’s stock, valued at approximately $1,195,850.96. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. increased its stake in CoreCivic by 152.7% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,818 shares of the real estate investment trust’s stock valued at $156,000 after purchasing an additional 3,516 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in CoreCivic in the fourth quarter valued at $173,000. Lourd Capital LLC acquired a new position in CoreCivic in the fourth quarter valued at $201,000. Verition Fund Management LLC acquired a new position in CoreCivic in the fourth quarter valued at $240,000. Finally, Vident Investment Advisory LLC acquired a new position in CoreCivic in the third quarter valued at $252,000. Hedge funds and other institutional investors own 79.84% of the company’s stock.

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About CoreCivic

The Company is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through corrections and detention management, government real estate solutions, and a growing network of residential reentry centers to help address America's recidivism crisis.

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