CoreCivic (NYSE:CXW) Stock Rating Lowered by Wall Street Zen

CoreCivic (NYSE:CXW) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

A number of other equities research analysts have also issued reports on the company. Jones Trading reaffirmed a “buy” rating and set a $30.00 target price on shares of CoreCivic in a research report on Friday. Weiss Ratings reissued a “hold (c+)” rating on shares of CoreCivic in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.00.

CoreCivic Stock Up 0.6%

NYSE CXW opened at $16.90 on Friday. CoreCivic has a 12 month low of $16.02 and a 12 month high of $24.99. The company has a market capitalization of $1.81 billion, a P/E ratio of 17.97 and a beta of 0.68. The company’s 50 day simple moving average is $19.45 and its 200 day simple moving average is $20.62. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.60 and a quick ratio of 1.60.

CoreCivic (NYSE:CXW) last posted its quarterly earnings results on Wednesday, November 5th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. The firm had revenue of $580.44 million for the quarter, compared to analyst estimates of $544.38 million. CoreCivic had a net margin of 5.21% and a return on equity of 7.12%. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 earnings per share. CoreCivic has set its FY 2025 guidance at 1.940-2.000 EPS. Equities research analysts expect that CoreCivic will post 1.5 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Thurgood Marshall, Jr. sold 6,000 shares of the company’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $20.52, for a total value of $123,120.00. Following the transaction, the director owned 44,023 shares in the company, valued at $903,351.96. This represents a 11.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $476,550.00. Following the sale, the executive vice president owned 135,559 shares of the company’s stock, valued at approximately $2,871,139.62. This represents a 14.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 51,000 shares of company stock worth $1,042,545. Company insiders own 2.30% of the company’s stock.

Institutional Trading of CoreCivic

Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. acquired a new stake in CoreCivic during the second quarter valued at $25,000. Covestor Ltd raised its stake in shares of CoreCivic by 31,516.7% during the 3rd quarter. Covestor Ltd now owns 1,897 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 1,891 shares in the last quarter. CWM LLC lifted its holdings in shares of CoreCivic by 80.1% during the 2nd quarter. CWM LLC now owns 2,186 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 972 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of CoreCivic by 33.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 702 shares in the last quarter. Finally, Harbour Investments Inc. grew its stake in shares of CoreCivic by 215.6% in the 1st quarter. Harbour Investments Inc. now owns 5,337 shares of the real estate investment trust’s stock valued at $108,000 after buying an additional 3,646 shares in the last quarter. 85.13% of the stock is currently 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.