CoreCivic (NYSE:CXW) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of CoreCivic (NYSE:CXW) from a hold rating to a buy rating in a report released on Friday morning.

A number of other equities research analysts also recently issued reports on the company. Wedbush reissued an “outperform” rating and set a $30.00 price target on shares of CoreCivic in a research report on Tuesday, February 11th. Noble Financial raised CoreCivic from a “market perform” rating to an “outperform” rating in a research report on Wednesday, February 12th.

CoreCivic Price Performance

Shares of NYSE:CXW opened at $21.92 on Friday. The company has a market cap of $2.40 billion, a P/E ratio of 35.93 and a beta of 0.79. 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 has a 52 week low of $10.74 and a 52 week high of $24.99. The business has a fifty day simple moving average of $21.18 and a 200-day simple moving average of $20.71.

CoreCivic (NYSE:CXW) last posted its quarterly earnings results on Wednesday, May 7th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.10. CoreCivic had a return on equity of 5.97% and a net margin of 3.51%. The firm had revenue of $488.60 million during the quarter, compared to the consensus estimate of $478.49 million. During the same quarter in the previous year, the business earned $0.46 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities research analysts forecast that CoreCivic will post 1.5 EPS for the current year.

Insider Transactions at CoreCivic

In other news, EVP Lucibeth Mayberry sold 75,000 shares of the company’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $21.49, for a total value of $1,611,750.00. Following the completion of the sale, the executive vice president now owns 211,232 shares of the company’s stock, valued at $4,539,375.68. This represents a 26.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On CoreCivic

Institutional investors and hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new position in shares of CoreCivic in the fourth quarter worth about $43,000. Smartleaf Asset Management LLC lifted its stake in shares of 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 in the last quarter. Copia Wealth Management acquired a new position in shares of CoreCivic in the fourth quarter worth about $82,000. Russell Investments Group Ltd. lifted its stake in shares of CoreCivic by 86,300.0% in the fourth quarter. Russell Investments Group Ltd. now owns 4,320 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 4,315 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of CoreCivic by 10.0% in the first quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust’s stock worth $105,000 after acquiring an additional 470 shares in the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.

CoreCivic Company Profile

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.