CoreCivic (NYSE:CXW) Rating Increased to Buy at StockNews.com

CoreCivic (NYSE:CXW) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Several other research analysts have also recently commented on the stock. Northland Securities increased their target price on shares of CoreCivic from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Wedbush boosted their price target on shares of CoreCivic from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th.

CoreCivic Stock Performance

CXW opened at $14.70 on Wednesday. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 24.92 and a beta of 0.81. The business’s 50-day moving average price is $15.03 and its two-hundred day moving average price is $14.06. CoreCivic has a 1 year low of $7.84 and a 1 year high of $16.24. 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 (NYSE:CXW) last announced its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.17). CoreCivic had a net margin of 3.56% and a return on equity of 4.70%. The firm had revenue of $491.25 million during the quarter, compared to analyst estimates of $489.62 million. Equities analysts expect that CoreCivic will post 1.31 EPS for the current fiscal year.

Insider Transactions at CoreCivic

In related news, EVP Anthony L. Grande sold 15,000 shares of the firm’s 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 transaction, the executive vice president now directly owns 186,692 shares of the company’s stock, valued at $2,707,034. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction, the chief executive officer now owns 820,262 shares of the company’s stock, valued at $11,992,230.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Anthony L. Grande sold 15,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 186,692 shares of the company’s stock, valued at $2,707,034. The disclosure for this sale can be found here. Company insiders own 1.89% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC bought a new position in CoreCivic during the fourth quarter worth $29,000. Criterion Capital Advisors LLC acquired a new stake in shares of CoreCivic during the 4th quarter worth about $32,000. Quantbot Technologies LP bought a new stake in shares of CoreCivic during the 1st quarter worth about $36,000. USA Financial Formulas acquired a new position in CoreCivic in the 4th quarter valued at about $69,000. Finally, UBS Group AG raised its holdings in CoreCivic by 110.6% in the 2nd quarter. UBS Group AG now owns 5,387 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 2,829 shares during the period. 85.13% of the stock is owned by institutional investors and hedge funds.

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.