Brokerages Set CoreCivic, Inc. (NYSE:CXW) Price Target at $33.33

Shares of CoreCivic, Inc. (NYSE:CXW) have received a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $33.3333.

Several brokerages recently weighed in on CXW. Wall Street Zen upgraded CoreCivic from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Weiss Ratings restated a “hold (c+)” rating on shares of CoreCivic in a research note on Saturday, September 27th. Wedbush restated an “outperform” rating and set a $38.00 target price on shares of CoreCivic in a research note on Wednesday, June 11th. Finally, Jones Trading restated a “buy” rating and set a $30.00 target price on shares of CoreCivic in a research note on Thursday, August 7th.

Insider Activity at CoreCivic

In other CoreCivic news, Director Thurgood Marshall, Jr. sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $20.52, for a total value of $123,120.00. Following the completion of the sale, the director owned 44,023 shares in the company, valued at approximately $903,351.96. This trade represents a 11.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anthony L. Grande sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $21.18, for a total value of $476,550.00. Following the completion of the sale, the executive vice president owned 135,559 shares of the company’s stock, valued at $2,871,139.62. This represents a 14.24% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,000 shares of company stock valued at $1,042,545. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of CoreCivic

A number of hedge funds have recently modified their holdings of the company. Texas Permanent School Fund Corp lifted its position in shares of CoreCivic by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 121,147 shares of the real estate investment trust’s stock worth $2,553,000 after acquiring an additional 709 shares during the period. Osaic Holdings Inc. lifted its position in shares of CoreCivic by 19.1% in the 2nd quarter. Osaic Holdings Inc. now owns 10,102 shares of the real estate investment trust’s stock worth $213,000 after acquiring an additional 1,618 shares during the period. Nomura Holdings Inc. bought a new stake in shares of CoreCivic in the 2nd quarter worth approximately $300,000. Evergreen Capital Management LLC bought a new stake in shares of CoreCivic in the 2nd quarter worth approximately $202,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of CoreCivic by 294.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 12,258 shares of the real estate investment trust’s stock worth $258,000 after acquiring an additional 9,154 shares during the period. Institutional investors own 85.13% of the company’s stock.

CoreCivic Stock Performance

Shares of NYSE CXW opened at $19.81 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 21.07 and a beta of 0.75. The business’s 50-day simple moving average is $20.46 and its 200-day simple moving average is $21.05. CoreCivic has a 52 week low of $12.33 and a 52 week high of $24.99.

CoreCivic (NYSE:CXW) last announced its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.16. CoreCivic had a return on equity of 7.12% and a net margin of 5.21%.The firm had revenue of $538.17 million during the quarter, compared to the consensus estimate of $499.02 million. During the same quarter in the prior year, the company earned $0.42 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, equities research analysts expect that CoreCivic will post 1.5 earnings per share for the current fiscal year.

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.