CoreCivic’s (CXW) Buy Rating Reiterated at Jones Trading

Jones Trading reissued their buy rating on shares of CoreCivic (NYSE:CXW) in a research note released on Friday,Benzinga reports. Jones Trading currently has a $30.00 price objective on the real estate investment trust’s stock.

Several other research firms have also issued reports on CXW. Wall Street Zen upgraded CoreCivic from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Weiss Ratings restated a “hold (c+)” rating on shares of CoreCivic in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.00.

CoreCivic Stock Up 0.6%

Shares of NYSE CXW opened at $16.90 on Friday. CoreCivic has a 1 year low of $16.02 and a 1 year high of $24.99. The firm’s 50-day moving average is $19.45 and its 200-day moving average is $20.62. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $1.81 billion, a PE ratio of 17.97 and a beta of 0.68.

CoreCivic (NYSE:CXW) last announced its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported $0.48 earnings per share for the quarter, meeting the consensus estimate of $0.48. CoreCivic had a net margin of 5.21% and a return on equity of 7.12%. The business had revenue of $580.44 million for the quarter, compared to analyst estimates of $544.38 million. During the same period in the prior year, the business posted $0.43 earnings per share. CoreCivic’s revenue was up 18.1% compared to the same quarter last year. CoreCivic has set its FY 2025 guidance at 1.940-2.000 EPS. Equities analysts expect that CoreCivic will post 1.5 EPS for the current year.

Insider Transactions at CoreCivic

In related news, Director Thurgood Marshall, Jr. sold 6,000 shares of CoreCivic stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $20.52, for a total value of $123,120.00. Following the sale, the director owned 44,023 shares of the company’s stock, valued at approximately $903,351.96. This trade represents a 11.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Anthony L. Grande sold 22,500 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $21.18, for a total value of $476,550.00. Following the completion of the sale, the executive vice president owned 135,559 shares in the company, valued at $2,871,139.62. The trade was a 14.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 51,000 shares of company stock valued at $1,042,545. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of CoreCivic

A number of institutional investors have recently made changes to their positions in CXW. Balyasny Asset Management L.P. grew its position in CoreCivic by 361.3% in the second quarter. Balyasny Asset Management L.P. now owns 1,260,637 shares of the real estate investment trust’s stock valued at $26,562,000 after purchasing an additional 987,375 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new stake in CoreCivic during the 1st quarter worth about $18,186,000. Nuveen LLC acquired a new position in shares of CoreCivic during the 1st quarter worth about $10,629,000. Invenomic Capital Management LP boosted its stake in shares of CoreCivic by 99.5% during the 1st quarter. Invenomic Capital Management LP now owns 907,390 shares of the real estate investment trust’s stock worth $18,411,000 after buying an additional 452,559 shares during the last quarter. Finally, Rubric Capital Management LP grew its holdings in shares of CoreCivic by 107.0% in the 2nd quarter. Rubric Capital Management LP now owns 815,280 shares of the real estate investment trust’s stock valued at $17,178,000 after acquiring an additional 421,391 shares in the last quarter. Institutional investors own 85.13% of the company’s stock.

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.