Northland Securities Raises CoreCivic (NYSE:CXW) Price Target to $19.00

CoreCivic (NYSE:CXW) had its price objective increased by Northland Securities from $17.00 to $19.00 in a research note published on Tuesday morning, Benzinga reports. Northland Securities currently has an outperform rating on the real estate investment trust’s stock.

Several other equities analysts have also weighed in on the stock. Wedbush restated an outperform rating and set a $18.00 target price on shares of CoreCivic in a report on Thursday, March 21st. StockNews.com lowered shares of CoreCivic from a buy rating to a hold rating in a report on Thursday, February 22nd.

CoreCivic Stock Down 0.3 %

CXW stock opened at $15.61 on Tuesday. The stock has a market capitalization of $1.76 billion, a P/E ratio of 26.46 and a beta of 0.81. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.60 and a current ratio of 1.60. CoreCivic has a one year low of $7.84 and a one year high of $16.24. The company has a 50 day moving average price of $14.78 and a two-hundred day moving average price of $13.59.

CoreCivic (NYSE:CXW) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.17). The company had revenue of $491.25 million during the quarter, compared to analyst estimates of $489.62 million. CoreCivic had a net margin of 3.56% and a return on equity of 4.70%. As a group, sell-side analysts expect that CoreCivic will post 1.3 EPS for the current year.

Insider Transactions at CoreCivic

In related news, CEO Damon T. Hininger sold 50,525 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $14.62, for a total transaction of $738,675.50. Following the completion of the sale, the chief executive officer now owns 820,262 shares of the company’s stock, valued at approximately $11,992,230.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Damon T. Hininger sold 50,525 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $14.62, for a total transaction of $738,675.50. Following the completion of the sale, the chief executive officer now owns 820,262 shares of the company’s stock, valued at approximately $11,992,230.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Anthony L. Grande sold 15,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $14.50, for a total transaction of $217,500.00. Following the sale, the executive vice president now directly owns 186,692 shares of the company’s stock, valued at approximately $2,707,034. The disclosure for this sale can be found here. Insiders own 1.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. SummerHaven Investment Management LLC lifted its stake in shares of CoreCivic by 1.0% in the 4th quarter. SummerHaven Investment Management LLC now owns 77,913 shares of the real estate investment trust’s stock worth $1,132,000 after acquiring an additional 760 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of CoreCivic by 4.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 28,741 shares of the real estate investment trust’s stock worth $323,000 after acquiring an additional 1,121 shares during the period. ProShare Advisors LLC lifted its stake in shares of CoreCivic by 7.2% in the 2nd quarter. ProShare Advisors LLC now owns 17,767 shares of the real estate investment trust’s stock worth $167,000 after acquiring an additional 1,193 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of CoreCivic by 1.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 78,169 shares of the real estate investment trust’s stock worth $904,000 after acquiring an additional 1,196 shares during the period. Finally, LPL Financial LLC lifted its stake in CoreCivic by 7.1% during the fourth quarter. LPL Financial LLC now owns 18,253 shares of the real estate investment trust’s stock valued at $211,000 after purchasing an additional 1,207 shares during the last quarter. 85.13% of the stock is owned by institutional investors and hedge funds.

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.