CoreCivic (NYSE:CXW) Sets New 52-Week High – What’s Next?

CoreCivic, Inc. (NYSE:CXW)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $31.66 and last traded at $32.3690, with a volume of 794336 shares trading hands. The stock had previously closed at $31.03.

Analyst Ratings Changes

CXW has been the topic of several research reports. Benchmark boosted their price target on CoreCivic from $28.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Weiss Ratings upgraded shares of CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. Wall Street Zen downgraded shares of CoreCivic from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Northland Securities set a $40.00 target price on shares of CoreCivic in a report on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $35.33.

CoreCivic Stock Up 0.9%

The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 25.39 and a beta of 0.57. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.44 and a quick ratio of 2.44. The stock has a fifty day moving average of $24.11 and a two-hundred day moving average of $20.89.

Institutional Investors Weigh In On CoreCivic

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of CoreCivic by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 12,713,519 shares of the real estate investment trust’s stock worth $242,955,000 after acquiring an additional 138,846 shares during the period. Lee Danner & Bass Inc. increased its position in CoreCivic by 20.1% during the 4th quarter. Lee Danner & Bass Inc. now owns 582,558 shares of the real estate investment trust’s stock valued at $11,133,000 after purchasing an additional 97,413 shares during the period. Aberdeen Group plc increased its position in CoreCivic by 60.1% during the 4th quarter. Aberdeen Group plc now owns 968,300 shares of the real estate investment trust’s stock valued at $18,504,000 after purchasing an additional 363,526 shares during the period. JPMorgan Chase & Co. increased its position in CoreCivic by 24.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 372,018 shares of the real estate investment trust’s stock valued at $7,571,000 after purchasing an additional 73,145 shares during the period. Finally, Kestrel Investment Management Corp bought a new position in CoreCivic during the 4th quarter worth approximately $5,601,000. 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.