CoreCivic (NYSE:CXW) Rating Reiterated by Wedbush

CoreCivic (NYSE:CXW)‘s stock had its “outperform” rating restated by Wedbush in a report released on Thursday, Benzinga reports. They presently have a $19.00 price objective on the real estate investment trust’s stock. Wedbush’s price target indicates a potential upside of 23.78% from the stock’s previous close.

Several other research firms also recently issued reports on CXW. StockNews.com downgraded CoreCivic from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. Northland Securities upped their target price on CoreCivic from $17.00 to $19.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th.

CoreCivic Stock Up 0.3 %

Shares of CoreCivic stock opened at $15.35 on Thursday. The firm has a market cap of $1.71 billion, a PE ratio of 26.02 and a beta of 0.81. CoreCivic has a 52-week low of $8.27 and a 52-week high of $16.24. The business’s 50 day simple moving average is $15.20 and its 200 day simple moving average is $14.46. 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 (NYSE:CXW) last posted its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.12). The company had revenue of $500.69 million for the quarter, compared to analyst estimates of $477.93 million. CoreCivic had a return on equity of 4.70% and a net margin of 3.56%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $0.34 EPS. On average, analysts predict that CoreCivic will post 1.31 earnings per share for the current fiscal year.

Insider Transactions at CoreCivic

In related news, CEO Damon T. Hininger sold 50,525 shares of the company’s 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 sale, the chief executive officer now owns 820,262 shares in the company, valued at approximately $11,992,230.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other CoreCivic news, EVP Anthony L. Grande sold 15,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $14.50, for a total value of $217,500.00. Following the transaction, the executive vice president now owns 186,692 shares in the company, valued at $2,707,034. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Damon T. Hininger sold 50,525 shares of the stock in a transaction that occurred on 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 in the company, 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 Trading of CoreCivic

A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC purchased a new stake in CoreCivic in the fourth quarter worth $29,000. Criterion Capital Advisors LLC bought a new position in shares of CoreCivic in the fourth quarter worth $32,000. USA Financial Formulas bought a new position in shares of CoreCivic in the fourth quarter worth $69,000. Allspring Global Investments Holdings LLC bought a new position in shares of CoreCivic in the first quarter worth $87,000. Finally, SG Americas Securities LLC bought a new position in shares of CoreCivic in the first quarter worth $140,000. 85.13% of the stock is owned by hedge funds and other institutional investors.

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.