CoreCivic (NYSE:CXW) Hits New 52-Week High – Here’s Why

CoreCivic, Inc. (NYSE:CXW) shares hit a new 52-week high on Friday . The stock traded as high as $34.86 and last traded at $34.72, with a volume of 1038307 shares trading hands. The stock had previously closed at $33.66.

Analysts Set New Price Targets

Several research firms have recently issued reports on CXW. JonesTrading restated a “buy” rating and set a $30.00 price objective on shares of CoreCivic in a report on Wednesday, August 5th. Wall Street Zen raised CoreCivic from a “hold” rating to a “buy” rating in a research note on Monday, August 10th. Benchmark lifted their price target on CoreCivic from $41.00 to $45.00 and gave the company a “buy” rating in a report on Friday, August 7th. Weiss Ratings raised shares of CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, July 1st. Finally, Noble Financial reiterated an “outperform” rating on shares of CoreCivic in a report on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $37.00.

CoreCivic Price Performance

The company has a 50 day simple moving average of $31.81 and a 200 day simple moving average of $24.84. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 27.78 and a beta of 0.60. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.86.

CoreCivic (NYSE:CXW) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. The firm had revenue of $684.92 million for the quarter, compared to analysts’ expectations of $618.63 million. CoreCivic had a net margin of 5.15% and a return on equity of 9.22%. CoreCivic’s revenue was up 27.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 earnings per share. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. As a group, research analysts predict that CoreCivic, Inc. will post 2.69 EPS for the current year.

CoreCivic announced that its Board of Directors has approved a stock repurchase plan on Monday, August 10th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to purchase up to 15.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at CoreCivic

In other CoreCivic news, EVP Anthony Grande sold 29,199 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $33.61, for a total value of $981,378.39. Following the completion of the sale, the executive vice president owned 164,782 shares of the company’s stock, valued at $5,538,323.02. This trade represents a 15.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Emkes sold 30,000 shares of CoreCivic stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $34.25, for a total transaction of $1,027,500.00. Following the sale, the director owned 141,274 shares in the company, valued at $4,838,634.50. This represents a 17.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 439,287 shares of company stock worth $14,734,193 over the last 90 days. 1.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Persistent Asset Partners Ltd acquired a new stake in CoreCivic during the 2nd quarter valued at approximately $52,000. Leonteq Securities AG purchased a new position in shares of CoreCivic during the 4th quarter valued at approximately $57,000. Smartleaf Asset Management LLC grew its position in shares of CoreCivic by 33.0% during the second quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 702 shares in the last quarter. Fifth Third Bancorp grew its position in shares of CoreCivic by 320.7% during the fourth quarter. Fifth Third Bancorp now owns 3,340 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 2,546 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of CoreCivic in the fourth quarter worth $71,000. Institutional investors and hedge funds own 85.13% of the company’s stock.

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.