StockNews.com Downgrades CoreCivic (NYSE:CXW) to Hold

CoreCivic (NYSE:CXW) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

Several other research firms have also issued reports on CXW. Northland Securities lifted their price target 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 price target on 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

Shares of CXW stock opened at $14.90 on Monday. CoreCivic has a 12 month low of $7.84 and a 12 month high of $16.24. The stock has a market cap of $1.66 billion, a PE ratio of 25.25 and a beta of 0.81. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.73. The company’s fifty day moving average price is $15.11 and its 200-day moving average price is $14.31.

CoreCivic (NYSE:CXW) last announced its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.23 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 business had revenue of $491.25 million for the quarter, compared to the consensus estimate of $489.62 million. On average, equities analysts expect that CoreCivic will post 1.31 EPS for the current fiscal year.

Insider Transactions at CoreCivic

In other news, CEO Damon T. Hininger sold 50,525 shares of CoreCivic stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $14.62, for a total value 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 approximately $11,992,230.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other CoreCivic news, EVP Anthony L. Grande sold 15,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 186,692 shares of the company’s stock, valued at approximately $2,707,034. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Damon T. Hininger sold 50,525 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $14.62, for a total transaction of $738,675.50. Following 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 disclosure for this sale can be found here. 2.21% of the stock is owned by insiders.

Institutional Investors Weigh In On CoreCivic

Several hedge funds and other institutional investors have recently made changes to their positions in CXW. SG Americas Securities LLC purchased a new stake in shares of CoreCivic during the 3rd quarter valued at about $1,464,000. Commonwealth Equity Services LLC grew its stake in shares of CoreCivic by 4.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 28,741 shares of the real estate investment trust’s stock valued at $323,000 after acquiring an additional 1,121 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of CoreCivic by 49.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,534 shares of the real estate investment trust’s stock valued at $231,000 after acquiring an additional 6,805 shares during the period. Jennison Associates LLC bought a new position in shares of CoreCivic during the 3rd quarter valued at approximately $1,052,000. Finally, Versor Investments LP grew its stake in shares of CoreCivic by 66.5% during the 3rd quarter. Versor Investments LP now owns 43,300 shares of the real estate investment trust’s stock valued at $487,000 after acquiring an additional 17,300 shares during the period. Hedge funds and other 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.