CoreCivic (NYSE:CXW) Stock Rating Upgraded by Wall Street Zen

CoreCivic (NYSE:CXW) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other research analysts also recently issued reports on CXW. Noble Financial upgraded shares of CoreCivic from a “market perform” rating to an “outperform” rating in a research report on Wednesday, February 12th. Wedbush reaffirmed an “outperform” rating and issued a $30.00 price target on shares of CoreCivic in a research note on Tuesday, February 11th.

CoreCivic Price Performance

CXW stock opened at $22.11 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 0.65. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 36.24 and a beta of 0.79. The company’s fifty day simple moving average is $21.42 and its 200 day simple moving average is $21.02. CoreCivic has a 12-month low of $10.74 and a 12-month high of $24.99.

CoreCivic (NYSE:CXW) last posted its quarterly earnings data on Wednesday, May 7th. The real estate investment trust reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.10. CoreCivic had a return on equity of 5.97% and a net margin of 3.51%. The firm had revenue of $488.60 million during the quarter, compared to analyst estimates of $478.49 million. During the same period last year, the company posted $0.46 EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis. On average, analysts expect that CoreCivic will post 1.5 earnings per share for the current year.

Insider Transactions at CoreCivic

In other CoreCivic news, CEO Damon T. Hininger sold 72,246 shares of the firm’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $22.50, for a total value of $1,625,535.00. Following the transaction, the chief executive officer now directly owns 879,324 shares of the company’s stock, valued at approximately $19,784,790. This trade represents a 7.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lucibeth Mayberry sold 75,000 shares of CoreCivic stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $21.49, for a total transaction of $1,611,750.00. Following the transaction, the executive vice president now owns 211,232 shares of the company’s stock, valued at $4,539,375.68. This represents a 26.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 180,246 shares of company stock valued at $3,974,455 over the last ninety days. 2.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On CoreCivic

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. bought a new stake in CoreCivic during the 4th quarter worth approximately $43,000. Smartleaf Asset Management LLC grew its holdings in CoreCivic by 318.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,442 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 1,859 shares in the last quarter. Copia Wealth Management purchased a new stake in CoreCivic in the 4th quarter valued at $82,000. Russell Investments Group Ltd. raised its position in CoreCivic by 86,300.0% in the 4th quarter. Russell Investments Group Ltd. now owns 4,320 shares of the real estate investment trust’s stock valued at $94,000 after buying an additional 4,315 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in CoreCivic by 10.0% during the 1st quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust’s stock valued at $105,000 after acquiring an additional 470 shares in the last quarter. Institutional investors and hedge funds 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.