CoreCivic (NYSE:CXW) PT Raised to $19.00

CoreCivic (NYSE:CXW) had its target price increased by analysts at Wedbush from $18.00 to $19.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Wedbush’s price objective would indicate a potential upside of 18.94% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. StockNews.com downgraded CoreCivic from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Northland Securities lifted their price target on shares of CoreCivic from $17.00 to $19.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th.

CoreCivic Stock Performance

Shares of CXW stock opened at $15.98 on Monday. The stock has a market capitalization of $1.78 billion, a PE ratio of 27.08 and a beta of 0.81. The business’s 50 day simple moving average is $14.91 and its 200 day simple moving average is $13.89. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.60 and a quick ratio of 1.60. CoreCivic has a one year low of $7.84 and a one year high of $16.24.

CoreCivic (NYSE:CXW) last posted its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.17). The firm had revenue of $491.25 million for the quarter, compared to analyst estimates of $489.62 million. CoreCivic had a return on equity of 4.70% and a net margin of 3.56%. As a group, research analysts forecast that CoreCivic will post 1.3 earnings per share for the current year.

Insider Transactions at CoreCivic

In related news, EVP Anthony L. Grande sold 15,000 shares of CoreCivic stock in a transaction on Monday, February 26th. The shares were sold at an average price of $14.50, for a total value of $217,500.00. Following the completion of the sale, the executive vice president now owns 186,692 shares of the company’s stock, valued at approximately $2,707,034. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other CoreCivic news, CEO Damon T. Hininger sold 50,525 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $14.62, for a total transaction of $738,675.50. Following the completion of the sale, the chief executive officer now directly owns 820,262 shares of the company’s stock, valued at approximately $11,992,230.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Anthony L. Grande sold 15,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $14.50, for a total value of $217,500.00. Following the completion of the sale, the executive vice president now directly owns 186,692 shares of the company’s stock, valued at $2,707,034. The disclosure for this sale can be found here. 2.21% of the stock is owned by insiders.

Institutional Investors Weigh In On CoreCivic

Several institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its stake in shares of CoreCivic by 1,050.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,138,544 shares of the real estate investment trust’s stock worth $45,603,000 after acquiring an additional 2,865,763 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in CoreCivic by 114.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,523,221 shares of the real estate investment trust’s stock worth $23,214,000 after purchasing an additional 1,349,325 shares during the last quarter. No Street GP LP bought a new stake in CoreCivic in the 4th quarter worth about $14,530,000. Employees Retirement System of Texas purchased a new stake in CoreCivic in the 1st quarter valued at about $10,889,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of CoreCivic by 318.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,205,074 shares of the real estate investment trust’s stock worth $13,931,000 after buying an additional 917,105 shares in the last quarter. 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.