CoreCivic (NYSE:CXW) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of CoreCivic (NYSE:CXW) from a hold rating to a buy rating in a research note published on Monday morning.

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

CoreCivic Price Performance

CXW stock opened at $22.31 on Monday. 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 $2.44 billion, a price-to-earnings ratio of 36.58 and a beta of 0.79. The company’s fifty day simple moving average is $21.77 and its 200 day simple moving average is $21.04. CoreCivic has a 12-month low of $10.74 and a 12-month high of $24.99.

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

Insiders Place Their Bets

In other CoreCivic news, CEO Damon T. Hininger sold 72,246 shares of the stock in a transaction that occurred 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 in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stacia Hylton sold 4,000 shares of the firm’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $21.69, for a total value of $86,760.00. Following the completion of the transaction, the director now directly owns 82,969 shares in the company, valued at approximately $1,799,597.61. This represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,246 shares of company stock valued at $4,061,215. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Meeder Asset Management Inc. bought a new stake in CoreCivic in the 4th quarter worth approximately $43,000. Smartleaf Asset Management LLC boosted its position in shares of CoreCivic by 318.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,442 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 1,859 shares during the last quarter. Copia Wealth Management purchased a new position in shares of CoreCivic in the fourth quarter valued at $82,000. Russell Investments Group Ltd. increased its position in CoreCivic by 86,300.0% in the fourth quarter. Russell Investments Group Ltd. now owns 4,320 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 4,315 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in CoreCivic by 10.0% in the first quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 470 shares during the last quarter. 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.