CoreCivic (NYSE:CXW) Given Buy Rating at JonesTrading

Key Points

• JonesTrading reiterated a Buy rating on CoreCivic and set a $42 price target, implying 18.15% upside from the prior close. Analysts overall maintain an average Buy rating with a $39.40 target.
• CoreCivic reported quarterly EPS of $0.38, beating estimates by $0.04, while revenue rose 27.3% year over year to $684.92 million.
• The board authorized a $500 million share-repurchase program, allowing buybacks of up to 15.7% of shares, though insiders sold approximately $15.4 million of stock over the past 90 days.

CoreCivic (NYSE:CXW - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at JonesTrading in a research report issued on Friday, Benzinga reports. They currently have a $42.00 price target on the real estate investment trust's stock. JonesTrading's target price suggests a potential upside of 18.15% from the company's previous close.

Other analysts have also issued reports about the company. Northland Securities set a $40.00 price objective on CoreCivic in a research note on Friday, June 26th. Benchmark increased their target price on shares of CoreCivic from $41.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Wall Street Zen upgraded shares of CoreCivic from a "hold" rating to a "buy" rating in a research note on Monday, August 10th. Weiss Ratings upgraded shares of CoreCivic from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, July 1st. Finally, Noble Financial reissued an "outperform" rating on shares of CoreCivic in a research note on Monday, August 10th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $39.40.

CoreCivic Stock Performance

Shares of CXW stock opened at $35.55 on Friday. The stock has a market cap of $3.52 billion, a P/E ratio of 28.44 and a beta of 0.60. The company has a fifty day moving average price of $32.65 and a two-hundred day moving average price of $26.05. CoreCivic has a one year low of $15.73 and a one year high of $36.07. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.32 and a quick ratio of 1.32.

CoreCivic (NYSE:CXW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.38 earnings per share for the quarter, beating the consensus estimate 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 net margin of 5.15% and a return on equity of 9.22%. The company's revenue was up 27.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 earnings per share. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. As a group, equities analysts predict that CoreCivic will post 2.69 EPS for the current year.

CoreCivic announced that its Board of Directors has approved a stock repurchase program on Monday, August 10th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the real estate investment trust to buy up to 15.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, Director John R. Prann, Jr. sold 3,098 shares of the company's stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $34.00, for a total transaction of $105,332.00. Following the transaction, the director owned 5,000 shares in the company, valued at approximately $170,000. This represents a 38.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Anthony L. Grande sold 12,564 shares of the company's stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $33.85, for a total transaction of $425,291.40. Following the transaction, the executive vice president owned 144,782 shares in the company, valued at $4,900,870.70. This represents a 7.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 459,287 shares of company stock worth $15,431,193 over the last ninety days. 1.76% of the stock is owned by company insiders.

Institutional Trading of CoreCivic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CXW. Sequoia Financial Advisors LLC acquired a new position in CoreCivic during the 2nd quarter valued at about $207,000. Tidal Investments LLC raised its stake in shares of CoreCivic by 14.4% in the second quarter. Tidal Investments LLC now owns 22,445 shares of the real estate investment trust's stock worth $682,000 after purchasing an additional 2,825 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of CoreCivic in the second quarter worth approximately $504,000. Corient Private Wealth LP bought a new position in shares of CoreCivic in the second quarter valued at approximately $458,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of CoreCivic in the second quarter valued at approximately $1,970,000. 85.13% of the stock is owned by institutional investors.

CoreCivic Company Profile

CoreCivic, Inc NYSE: CXW is a diversified government-solutions company that provides detention, corrections and residential reentry services. The company partners with federal, state and local government agencies to design, develop, own, lease and manage correctional and detention facilities in the United States.

Through its CoreCivic Safety operations, the company manages correctional and detention facilities and provides related services, including security, inmate care, transportation and rehabilitation programs.

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