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CXW

CoreCivic

$13.71

-0.05 (-0.36%)

10:55
10/06/16
10/06
10:55
10/06/16
10:55

Corrections Corp put volume heavy and directionally bearish

Bearish flow noted in Corrections Corp with 4,244 puts trading, or 15x expected. Most active are Dec-16 14 puts and Mar-17 10 puts, with total volume in those strikes near 4,100 contracts. The Put/Call Ratio is 42.44, while ATM IV is up nearly 3 points on the day. Earnings are expected on November 2nd.

CXW CoreCivic
$13.71

-0.05 (-0.36%)

08/24/16
ADAM
08/24/16
NO CHANGE
ADAM
Buy
Risks could continue to weigh on prison stocks, says Canaccord
Canaccord analyst Ryan Meliker lowered his price targets on both Correction Corp. of America (CXW) and the GEO Group (GEO) following the announcement of federal prison contracts. Meliker said both companies are currently selling at all-time high free cash flow yields, which implies they are either extremely cheap or there is substantial risk to more contract cancellations. The analyst believes most of those concerns are already priced in, but the risk of dividend cuts, covenant breaches and contract losses will weigh on the stocks. Meliker said Correction Corp. could cut its dividend by 35% and are at risk of breaching covenants but that GEO Group's dividend and covenants are safe. Meliker maintained his Buy rating but lowered his price target to $28 from $38 on the GEO Group and maintained his Hold rating and lowered his price target to $21 from $30 on Correction Corp. shares.
08/29/16
RHCO
08/29/16
NO CHANGE
RHCO
ICE does not have ready alternatives to private prisons, says SunTrust
SunTrust analysts noted that the Department of Homeland Security has directed U.S. Immigration and Customs Enforcement, or ICE, to initiate a review of its current detention and processing centers, but they do not believe there are ready alternatives to the purpose-built prisons owned by Geo Group (GEO) and Corrections Corp. (CXW), making this less of a risk than the potential loss of business with the Bureau of Prisons. The firm has a Neutral rating on Corrections Corp. shares and a Buy rating on Geo Group.
09/01/16
RHCO
09/01/16
NO CHANGE
RHCO
Geo Group, Corrections Corp. price targets lowered at SunTrust
SunTrust analyst Tobey Summer lowered his price target on Geo Group (GEO) to $32 from $38 and cut his price target on Corrections Corp (CXW) to $20 from $34. The analyst says that the companies' Bureau of Prisons business is "at risk over five years." However, he thinks that the companies' ICE and U.S. Marshals business is "substantially more secure." The analyst keeps a Buy rating on Geo and a Neutral rating on Corrections Corp.
09/28/16
ADAM
09/28/16
NO CHANGE
Target $21
ADAM
Hold
Corrections Corp still challenged, but restructuring a good step, says Canaccord
Canaccord analyst Ryan Meliker believes the restructuring plans announced by Corrections Corp. of America (CXW) are a good first step to "build a cushion in cash flows and dividend coverage," though he sees a number of potential challenges that may further pressure the company. In addition to sentencing reform and contract headlines, Meliker notes the EBITDA risk posed by the renegotiation of CCA's South Texas Family Residential facility contract. The analyst keeps a Hold rating and $21 price target on CCA shares and said he continues to prefer Geo Group (GEO), on which he has a Buy rating, in the prison REIT space.

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OXY

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ALK

Alaska Air

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PCG

PG&E

$44.39

-0.11 (-0.25%)

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ENB

Enbridge

$39.39

-0.33 (-0.83%)

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SEP

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OMER

Omeros

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EIX

Edison International

$62.12

0.2 (0.32%)

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TWOU

2U

$72.38

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NQ

NQ Mobile

$3.82

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BLUE

bluebird bio

$175.95

-6.15 (-3.38%)

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OPB

Opus Bank

$28.70

0.05 (0.17%)

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CQH

Cheniere Energy Partners LP

$28.22

0.22 (0.79%)

, CQP

Cheniere Energy Partners

$30.48

0.2 (0.66%)

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CQH

Cheniere Energy Partners LP

$28.22

0.22 (0.79%)

CQP

Cheniere Energy Partners

$30.48

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ENLC

EnLink Midstream

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ENLK

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EPD

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NBLX

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PAA

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SHLX

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TRGP

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WES

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REGN

Regeneron

$371.53

0.25 (0.07%)

, SNY

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REGN

Regeneron

$371.53

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SNY

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SLB

Schlumberger

$76.42

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TTNP

Titan Pharmaceuticals

$1.28

0.025 (2.00%)

, BBRX

Braeburn Pharmaceuticals

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BBRX

Braeburn Pharmaceuticals

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CC

Chemours

$54.02

2.42 (4.69%)

, MMM

3M

$248.18

2.27 (0.92%)

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Chemours

$54.02

2.42 (4.69%)

MMM

3M

$248.18

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ABB

ABB

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ACBFF

Aurora Cannabis

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ATNX

Athenex

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LEVB

Level Brands

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ABAX

Abaxis

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QURE

uniQure

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