CoreCivic (NYSE:CXW) Stock Price Up 7.9% – Still a Buy?

CoreCivic, Inc. (NYSE:CXW) shares traded up 7.9% during trading on Wednesday . The company traded as high as $20.12 and last traded at $20.20. 950,098 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 1,326,495 shares. The stock had previously closed at $18.73.

Analyst Ratings Changes

A number of analysts have weighed in on CXW shares. Wedbush restated an “outperform” rating and set a $30.00 price objective on shares of CoreCivic in a research note on Tuesday, February 11th. StockNews.com upgraded CoreCivic from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Finally, Noble Financial raised CoreCivic from a “market perform” rating to an “outperform” rating in a research report on Wednesday, February 12th.

CoreCivic Stock Performance

The business’s fifty day moving average is $20.20 and its 200-day moving average is $18.08. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 0.65. The company has a market cap of $2.19 billion, a PE ratio of 33.03 and a beta of 1.02.

CoreCivic (NYSE:CXW) last released its quarterly earnings results on Monday, February 10th. The real estate investment trust reported $0.39 earnings per share 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, research analysts predict that CoreCivic, Inc. will post 1.5 EPS for the current fiscal year.

Hedge Funds Weigh In On CoreCivic

Hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new position in CoreCivic in the 4th quarter worth approximately $43,000. Smartleaf Asset Management LLC grew its stake in shares of CoreCivic by 318.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,442 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 1,859 shares in the last quarter. Copia Wealth Management bought a new position in shares of CoreCivic during the 4th quarter valued at approximately $82,000. Russell Investments Group Ltd. raised its position in CoreCivic by 86,300.0% in the 4th quarter. Russell Investments Group Ltd. now owns 4,320 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 4,315 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of CoreCivic by 25.5% during the fourth quarter. GAMMA Investing LLC now owns 4,686 shares of the real estate investment trust’s stock worth $102,000 after acquiring an additional 953 shares during the period. 85.13% of the stock is currently owned by institutional investors.

About CoreCivic

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.