CoreCivic (NYSE:CXW) Downgraded by Wall Street Zen to Hold

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

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

CoreCivic Stock Down 0.1%

Shares of NYSE CXW opened at $29.86 on Friday. CoreCivic has a 1 year low of $15.73 and a 1 year high of $32.69. The firm’s 50-day moving average is $28.22 and its 200-day moving average is $22.53. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $2.95 billion, a PE ratio of 24.28 and a beta of 0.58.

Hedge Funds Weigh In On CoreCivic

Several institutional investors have recently modified their holdings of CXW. Vanguard Group Inc. lifted its position in CoreCivic by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 12,713,519 shares of the real estate investment trust’s stock valued at $242,955,000 after acquiring an additional 138,846 shares in the last quarter. River Road Asset Management LLC boosted its stake in CoreCivic by 3.3% in the 4th quarter. River Road Asset Management LLC now owns 8,978,240 shares of the real estate investment trust’s stock worth $171,574,000 after purchasing an additional 287,108 shares during the period. Lee Danner & Bass Inc. increased its holdings in CoreCivic by 273.1% during the 1st quarter. Lee Danner & Bass Inc. now owns 2,173,498 shares of the real estate investment trust’s stock worth $41,101,000 after purchasing an additional 1,590,940 shares in the last quarter. Rubric Capital Management LP raised its stake in shares of CoreCivic by 5.0% in 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, Balyasny Asset Management L.P. raised its stake in shares of CoreCivic by 361.3% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,260,637 shares of the real estate investment trust’s stock valued at $26,562,000 after purchasing an additional 987,375 shares during the period. 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.