CoreCivic’s (CXW) “Buy” Rating Reiterated at JonesTrading

JonesTrading reaffirmed their buy rating on shares of CoreCivic (NYSE:CXW) in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $30.00 target price on the real estate investment trust’s stock.

A number of other research analysts have also weighed in on CXW. Benchmark raised their price objective on CoreCivic from $36.00 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Noble Financial increased their price target on 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 report on Friday, June 26th. Weiss Ratings raised CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, July 1st. Finally, UBS Group set a $35.00 price objective on CoreCivic in a report on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, CoreCivic has a consensus rating of “Buy” and an average price target of $37.00.

CoreCivic Trading Up 0.3%

NYSE:CXW opened at $32.33 on Wednesday. The company has a quick ratio of 2.44, a current ratio of 1.32 and a debt-to-equity ratio of 0.86. CoreCivic has a 52 week low of $15.73 and a 52 week high of $34.00. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 25.86 and a beta of 0.58. The company’s 50 day moving average price is $29.22 and its 200-day moving average price is $22.91.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CXW. BlackRock Inc. purchased a new stake in shares of CoreCivic during the second quarter valued at $480,557,000. Vanguard Group Inc. grew its stake in CoreCivic by 1.1% during 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 purchasing an additional 138,846 shares during the last quarter. River Road Asset Management LLC grew its stake in CoreCivic by 3.3% during the 4th quarter. River Road Asset Management LLC now owns 8,978,240 shares of the real estate investment trust’s stock valued at $171,574,000 after purchasing an additional 287,108 shares during the last quarter. Lee Danner & Bass Inc. increased its holdings in shares of CoreCivic by 273.1% in the first quarter. Lee Danner & Bass Inc. now owns 2,173,498 shares of the real estate investment trust’s stock valued at $41,101,000 after purchasing an additional 1,590,940 shares during the period. Finally, Rubric Capital Management LP raised its stake in shares of CoreCivic by 5.0% in the first quarter. Rubric Capital Management LP now owns 2,059,216 shares of the real estate investment trust’s stock worth $38,940,000 after purchasing an additional 97,770 shares during the last quarter. Hedge funds and other 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.