CoreCivic (NYSE:CXW) Hits New 1-Year High – Here’s What Happened

CoreCivic, Inc. (NYSE:CXW)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $26.97 and last traded at $26.5440, with a volume of 2275863 shares changing hands. The stock had previously closed at $25.18.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CXW. JonesTrading restated a “buy” rating and issued a $30.00 target price on shares of CoreCivic in a report on Friday, February 13th. Wall Street Zen cut shares of CoreCivic from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings upgraded shares of CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 29th. Finally, Benchmark assumed coverage on shares of CoreCivic in a research note on Tuesday, March 24th. They set a “buy” rating and a $28.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $29.00.

CoreCivic Price Performance

The stock’s fifty day moving average price is $21.29 and its 200-day moving average price is $19.69. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.44 and a current ratio of 2.44. The firm has a market cap of $2.67 billion, a PE ratio of 21.97 and a beta of 0.67.

CoreCivic (NYSE:CXW) last announced its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.16). The company had revenue of $614.73 million during the quarter, compared to analysts’ expectations of $604.48 million. CoreCivic had a net margin of 5.53% and a return on equity of 9.29%. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 EPS. CoreCivic has set its FY 2026 guidance at 2.580-2.680 EPS. As a group, equities analysts forecast that CoreCivic, Inc. will post 2.66 EPS for the current fiscal year.

Hedge Funds Weigh In On CoreCivic

Large investors have recently made changes to their positions in the stock. Aberdeen Group plc increased its holdings in CoreCivic by 44.5% during the 3rd quarter. Aberdeen Group plc now owns 604,774 shares of the real estate investment trust’s stock valued at $13,027,000 after acquiring an additional 186,174 shares in the last quarter. Vanguard Group Inc. increased its holdings in CoreCivic by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 12,574,673 shares of the real estate investment trust’s stock valued at $255,895,000 after acquiring an additional 183,923 shares in the last quarter. Turiya Advisors Asia Ltd purchased a new position in CoreCivic during the 3rd quarter valued at about $9,748,000. Lee Danner & Bass Inc. increased its holdings in CoreCivic by 20.1% during the 4th quarter. Lee Danner & Bass Inc. now owns 582,558 shares of the real estate investment trust’s stock valued at $11,133,000 after acquiring an additional 97,413 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC increased its holdings in CoreCivic by 442.6% during the 3rd quarter. Counterpoint Mutual Funds LLC now owns 106,895 shares of the real estate investment trust’s stock valued at $2,175,000 after acquiring an additional 87,194 shares in the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.

About CoreCivic

CoreCivic, Inc (NYSE: CXW) is a real estate investment trust specializing in the ownership, management and operation of private correctional and detention facilities in the United States. The company enters into contracts with federal, state and local government agencies to house inmates and detainees in facilities that it owns or operates on a concession basis. In addition to traditional prison operations, CoreCivic provides specialized services such as community-based reentry programs, electronic monitoring and rehabilitation initiatives aimed at reducing recidivism.

CoreCivic’s portfolio encompasses a mix of adult correctional facilities, immigration detention centers, residential reentry centers and other community-based programs.