CoreCivic (NYSE:CXW) Shares Gap Up – Still a Buy?

CoreCivic, Inc. (NYSE:CXW) shares gapped up before the market opened on Thursday . The stock had previously closed at $18.40, but opened at $19.12. CoreCivic shares last traded at $19.30, with a volume of 92,555 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CXW shares. Noble Financial upgraded shares of CoreCivic from a “market perform” rating to an “outperform” rating in a research note on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and set a $30.00 price objective on shares of CoreCivic in a report on Tuesday, February 11th. Northland Securities boosted their target price on CoreCivic from $17.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, StockNews.com raised CoreCivic from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th.

CoreCivic Stock Performance

The stock has a fifty day moving average price of $20.41 and a 200 day moving average price of $17.88. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 0.65. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 31.21 and a beta of 1.00.

CoreCivic (NYSE:CXW) last posted its quarterly earnings data on Monday, February 10th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.06. CoreCivic had a net margin of 3.51% and a return on equity of 5.97%. As a group, analysts predict that CoreCivic, Inc. will post 1.5 earnings per share for the current year.

Hedge Funds Weigh In On CoreCivic

Several large investors have recently made changes to their positions in CXW. Meeder Asset Management Inc. bought a new position in CoreCivic in the 4th quarter worth approximately $43,000. Smartleaf Asset Management LLC increased its position in CoreCivic by 318.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,442 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 1,859 shares during the period. Russell Investments Group Ltd. raised its stake in CoreCivic by 86,300.0% during the 4th quarter. Russell Investments Group Ltd. now owns 4,320 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 4,315 shares during the last quarter. GAMMA Investing LLC boosted its holdings in CoreCivic by 25.5% in the 4th quarter. GAMMA Investing LLC now owns 4,686 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 953 shares during the period. Finally, KBC Group NV grew its position in CoreCivic by 57.3% in the 4th quarter. KBC Group NV now owns 5,477 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 1,995 shares during the last quarter. Institutional investors and hedge funds own 85.13% of the company’s stock.

CoreCivic Company Profile

CoreCivic, Inc owns and operates partnership correctional, detention, and residential reentry facilities in the United States. It operates through three segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. The company provides a range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions.