Shares of CoreCivic, Inc. (NYSE:CXW – Get Free Report) have received an average rating of “Moderate Buy” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $39.40.
Several equities research analysts recently weighed in on the stock. Noble Financial reaffirmed an “outperform” rating on shares of CoreCivic in a report on Monday, August 10th. Wall Street Zen raised shares of CoreCivic from a “hold” rating to a “buy” rating in a research note on Monday, August 10th. Northland Securities set a $40.00 target price on shares of CoreCivic in a research note on Friday, June 26th. Weiss Ratings upgraded shares of CoreCivic from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, October 13th. Finally, JonesTrading reaffirmed a “buy” rating and issued a $42.00 price target on shares of CoreCivic in a research note on Friday, September 18th.
Insider Buying and Selling at CoreCivic
In related news, EVP Lucibeth Mayberry sold 120,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $33.29, for a total transaction of $3,994,800.00. Following the sale, the executive vice president owned 149,329 shares of the company’s stock, valued at $4,971,162.41. The trade was a 44.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David Garfinkle sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $33.76, for a total value of $1,688,000.00. Following the sale, the chief financial officer directly owned 343,353 shares in the company, valued at approximately $11,591,597.28. The trade was a 12.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 459,287 shares of company stock valued at $15,431,193. 1.76% of the stock is currently owned by company insiders.
Institutional Trading of CoreCivic
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of CoreCivic in the second quarter valued at $480,557,000. Assenagon Asset Management S.A. bought a new position in shares of CoreCivic during the 3rd quarter valued at about $93,789,000. Lee Danner & Bass Inc. boosted its position in shares of CoreCivic by 273.1% during the 1st quarter. Lee Danner & Bass Inc. now owns 2,173,498 shares of the real estate investment trust’s stock valued at $41,101,000 after purchasing an additional 1,590,940 shares in the last quarter. Park West Asset Management LLC acquired a new position in shares of CoreCivic in the 2nd quarter worth approximately $27,310,000. Finally, JB Capital Partners LP acquired a new position in shares of CoreCivic in the 2nd quarter worth approximately $25,677,480. Institutional investors own 85.13% of the company’s stock.
CoreCivic Trading Down 0.5%
Shares of CXW stock opened at $29.38 on Friday. CoreCivic has a 1 year low of $15.73 and a 1 year high of $36.55. The firm has a market capitalization of $2.90 billion, a PE ratio of 23.50 and a beta of 0.57. The stock has a fifty day moving average of $33.02 and a two-hundred day moving average of $28.36. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.32 and a current ratio of 1.32.
CoreCivic (NYSE:CXW – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. The company had revenue of $684.92 million for the quarter, compared to analyst estimates of $618.63 million. CoreCivic had a return on equity of 9.22% and a net margin of 5.15%. The company’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same period last year, the company earned $0.59 earnings per share. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. As a group, research analysts expect that CoreCivic will post 2.69 EPS for the current year.
CoreCivic declared that its board has initiated a stock repurchase plan on Monday, August 10th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the real estate investment trust to purchase up to 15.7% of its shares through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
CoreCivic Company Profile
CoreCivic, Inc is a diversified government solutions company that owns, manages and develops correctional and detention facilities in the United States. The company provides detention and corrections services to federal, state and local government agencies, primarily under contracts that call for the housing and care of individuals in custody.
In addition to secure facilities, CoreCivic operates residential reentry centers and provides community-based services designed to support individuals transitioning from incarceration.
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