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

CoreCivic, Inc. (NYSE:CXW - Get Free Report) 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 traded.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Noble Financial upgraded CoreCivic from a "market perform" rating to an "outperform" rating in a research note on Wednesday, February 12th. Wedbush reiterated an "outperform" rating and issued a $30.00 price target on shares of CoreCivic in a research note on Tuesday, February 11th. Finally, StockNews.com upgraded shares of CoreCivic from a "hold" rating to a "buy" rating in a research note on Wednesday, February 26th.

CoreCivic Price Performance

The company has a 50 day moving average price of $20.31 and a 200-day moving average price of $18.00. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 31.20 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 0.65.

CoreCivic (NYSE:CXW - Get Free Report) last announced its earnings results on Monday, February 10th. The real estate investment trust reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates 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, equities research analysts predict that CoreCivic, Inc. will post 1.5 EPS for the current fiscal year.

Remove Ads

Hedge Funds Weigh In On CoreCivic

Several large investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. bought a new position in CoreCivic in the 4th quarter valued at $43,000. Smartleaf Asset Management LLC raised its position in CoreCivic by 318.9% in 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. Copia Wealth Management purchased a new position in CoreCivic in the fourth quarter valued at about $82,000. Russell Investments Group Ltd. grew its position in shares of 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 acquiring an additional 4,315 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of CoreCivic by 25.5% during the 4th quarter. GAMMA Investing LLC now owns 4,686 shares of the real estate investment trust's stock worth $102,000 after purchasing an additional 953 shares during the last quarter. 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.