CoreCivic (NYSE:CXW) Reaches New 1-Year High – Time to Buy?

CoreCivic, Inc. (NYSE:CXW)’s stock price reached a new 52-week high on Monday . The stock traded as high as $30.95 and last traded at $30.6960, with a volume of 2646352 shares changing hands. The stock had previously closed at $30.77.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CXW. Weiss Ratings lowered CoreCivic from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 16th. Wall Street Zen cut CoreCivic from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Benchmark lifted their price target on CoreCivic from $28.00 to $36.00 and gave the company a “buy” rating in a report on Friday. Finally, Northland Securities set a $40.00 price target on CoreCivic in a research report on Friday. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.33.

CoreCivic Stock Performance

The company has a debt-to-equity ratio of 0.99, a current ratio of 2.44 and a quick ratio of 2.44. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 25.09 and a beta of 0.67. The firm’s fifty day moving average is $23.08 and its 200 day moving average is $20.47.

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

Hedge Funds Weigh In On CoreCivic

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in CoreCivic by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,574,673 shares of the real estate investment trust’s stock worth $255,895,000 after purchasing an additional 183,923 shares during the last quarter. Lee Danner & Bass Inc. grew its stake in shares of CoreCivic by 20.1% in 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 buying an additional 97,413 shares in the last quarter. Aberdeen Group plc grew its stake in shares of CoreCivic by 60.1% in the 4th quarter. Aberdeen Group plc now owns 968,300 shares of the real estate investment trust’s stock valued at $18,504,000 after buying an additional 363,526 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in CoreCivic by 24.5% in the third quarter. JPMorgan Chase & Co. now owns 372,018 shares of the real estate investment trust’s stock worth $7,571,000 after buying an additional 73,145 shares during the last quarter. Finally, Kestrel Investment Management Corp bought a new position in CoreCivic during the fourth quarter valued at approximately $5,601,000. 85.13% of the stock is owned by institutional investors and hedge funds.

CoreCivic Company Profile

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.