Corecivic (CXW) Downgraded by Zacks Investment Research

Corecivic (NYSE:CXW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “CoreCivic, Inc. is a real estate investment trust which provides correctional, detention and residential reentry facilities. It designs, constructs, owns, manages and renovates jails, prisons, government agencies and inmate transportation companies. CoreCivic, Inc., formerly known as Corrections Corporation of America, is based in Nashville, Tennessee. “

Separately, ValuEngine raised shares of Corecivic from a “strong sell” rating to a “sell” rating in a research report on Monday, February 4th.

CXW stock opened at $21.82 on Tuesday. The company has a market cap of $2.56 billion, a PE ratio of 9.45 and a beta of 1.33. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.03 and a current ratio of 1.03. Corecivic has a one year low of $17.16 and a one year high of $26.09.

Corecivic (NYSE:CXW) last released its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.18). The firm had revenue of $484.06 million for the quarter, compared to analysts’ expectations of $466.75 million. Corecivic had a net margin of 9.09% and a return on equity of 12.72%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 EPS. Analysts forecast that Corecivic will post 2.46 earnings per share for the current year.

In other Corecivic news, CEO Damon T. Hininger sold 21,251 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $20.69, for a total value of $439,683.19. Following the sale, the chief executive officer now owns 273,493 shares of the company’s stock, valued at $5,658,570.17. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Thurgood Marshall, Jr. sold 7,200 shares of the business’s stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $19.30, for a total value of $138,960.00. Following the completion of the sale, the director now directly owns 36,447 shares in the company, valued at approximately $703,427.10. The disclosure for this sale can be found here. 1.24% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund raised its position in Corecivic by 1.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 47,474 shares of the real estate investment trust’s stock valued at $923,000 after purchasing an additional 581 shares during the period. Retirement Systems of Alabama raised its position in Corecivic by 0.4% in the first quarter. Retirement Systems of Alabama now owns 154,494 shares of the real estate investment trust’s stock valued at $3,005,000 after purchasing an additional 618 shares during the period. Mondrian Investment Partners LTD raised its position in Corecivic by 0.4% in the fourth quarter. Mondrian Investment Partners LTD now owns 187,686 shares of the real estate investment trust’s stock valued at $3,346,000 after purchasing an additional 670 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Corecivic by 0.9% in the first quarter. Nomura Asset Management Co. Ltd. now owns 78,600 shares of the real estate investment trust’s stock valued at $1,529,000 after purchasing an additional 700 shares during the period. Finally, Nissay Asset Management Corp Japan ADV raised its position in Corecivic by 6.6% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 11,310 shares of the real estate investment trust’s stock valued at $202,000 after purchasing an additional 705 shares during the period. 81.13% of the stock is currently owned by institutional investors.

Corecivic Company Profile

CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through corrections and detention management, a growing network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.

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