CoreCivic (NYSE:CXW) Upgraded to Buy by StockNews.com

CoreCivic (NYSE:CXW) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

A number of other brokerages also recently issued reports on CXW. Northland Securities increased their price objective on CoreCivic from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Wedbush lifted their target price 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

NYSE:CXW opened at $14.70 on Wednesday. The business’s fifty day moving average is $15.03 and its 200 day moving average is $14.06. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 24.92 and a beta of 0.81. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.60 and a current ratio of 1.60. CoreCivic has a 52-week low of $7.84 and a 52-week high of $16.24.

CoreCivic (NYSE:CXW) last posted its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.23 earnings per share 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 company had revenue of $491.25 million for the quarter, compared to analysts’ expectations of $489.62 million. Research analysts predict that CoreCivic will post 1.31 EPS for the current year.

Insider Activity

In other CoreCivic news, CEO Damon T. Hininger sold 50,525 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $14.62, for a total transaction of $738,675.50. Following the transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Anthony L. Grande sold 15,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $14.50, for a total transaction of $217,500.00. Following the sale, the executive vice president now owns 186,692 shares in the company, valued at approximately $2,707,034. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Damon T. Hininger sold 50,525 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 820,262 shares of the company’s stock, valued at $11,992,230.44. The disclosure for this sale can be found here. Insiders own 1.89% of the company’s stock.

Hedge Funds Weigh In On CoreCivic

A number of institutional investors and hedge funds have recently made changes to their positions in CXW. BlackRock Inc. increased its position in CoreCivic by 1.1% during the 1st quarter. BlackRock Inc. now owns 18,939,729 shares of the real estate investment trust’s stock valued at $174,246,000 after buying an additional 199,682 shares in the last quarter. FMR LLC increased its holdings in shares of CoreCivic by 0.6% during the third quarter. FMR LLC now owns 8,597,388 shares of the real estate investment trust’s stock valued at $96,721,000 after acquiring an additional 53,395 shares in the last quarter. State Street Corp raised its position in shares of CoreCivic by 1.1% in the 2nd quarter. State Street Corp now owns 4,239,868 shares of the real estate investment trust’s stock worth $47,105,000 after purchasing an additional 48,018 shares during the last quarter. Cooper Creek Partners Management LLC boosted its stake in CoreCivic by 24.2% in the 3rd quarter. Cooper Creek Partners Management LLC now owns 3,297,002 shares of the real estate investment trust’s stock worth $37,091,000 after purchasing an additional 641,576 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in CoreCivic by 1,050.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,138,544 shares of the real estate investment trust’s stock valued at $45,603,000 after purchasing an additional 2,865,763 shares during 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.