CoreCivic, Inc. (NYSE:CXW) Receives Average Recommendation of "Buy" from Analysts

Key Points

• CoreCivic, Inc. has received a consensus recommendation of "Buy" from four analysts, with an average twelve-month price target of $33.33.
• Recent stock performance shows CoreCivic shares traded at $19.81, with a market capitalization of $2.12 billion and a PE ratio of 21.07.
• The company reported a quarterly profit exceeding expectations, with earnings per share at $0.59 and revenues of $538.17 million, up 9.8% year-over-year.

CoreCivic, Inc. (NYSE:CXW - Get Free Report) has been given a consensus recommendation of "Buy" by the four analysts that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have covered the stock in the last year is $33.3333.

Several research analysts have issued reports on the company. Wall Street Zen upgraded CoreCivic from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Jones Trading restated a "buy" rating and issued a $30.00 price target on shares of CoreCivic in a research report on Thursday, August 7th. Wedbush reaffirmed an "outperform" rating and set a $38.00 price objective on shares of CoreCivic in a research note on Wednesday, June 11th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of CoreCivic in a report on Saturday, September 27th.

CoreCivic Stock Performance

Shares of CXW stock traded up $0.33 during trading hours on Friday, hitting $19.81. The stock had a trading volume of 895,418 shares, compared to its average volume of 1,091,417. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.60 and a quick ratio of 1.60. The stock's 50 day moving average is $20.48 and its 200 day moving average is $21.04. CoreCivic has a twelve month low of $12.33 and a twelve month high of $24.99. The firm has a market capitalization of $2.12 billion, a PE ratio of 21.07 and a beta of 0.75.

CoreCivic (NYSE:CXW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping 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 period last year, the company earned $0.42 earnings per share. The company's revenue for the quarter was up 9.8% on a year-over-year basis. As a group, research analysts forecast that CoreCivic will post 1.5 earnings per share for the current fiscal year.

Insider Transactions at CoreCivic

In related news, EVP Anthony L. Grande sold 22,500 shares of the business'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 transaction, the executive vice president directly owned 135,559 shares of the company's stock, valued at approximately $2,871,139.62. The trade was a 14.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thurgood Marshall, Jr. sold 6,000 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $20.52, for a total value of $123,120.00. Following the completion of the transaction, the director directly owned 44,023 shares in the company, valued at approximately $903,351.96. The trade was a 11.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,000 shares of company stock valued at $1,042,545 in the last quarter. Company insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On CoreCivic

Institutional investors have recently made changes to their positions in the business. Balyasny Asset Management L.P. raised its position in shares of CoreCivic by 361.3% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,260,637 shares of the real estate investment trust's stock valued at $26,562,000 after acquiring an additional 987,375 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new position in CoreCivic in the 1st quarter worth about $18,186,000. Nuveen LLC acquired a new stake in CoreCivic in the 1st quarter valued at approximately $10,629,000. Invenomic Capital Management LP lifted its position in shares of CoreCivic by 99.5% in the 1st quarter. Invenomic Capital Management LP now owns 907,390 shares of the real estate investment trust's stock worth $18,411,000 after acquiring an additional 452,559 shares during the period. Finally, Rubric Capital Management LP lifted its position in shares of CoreCivic by 107.0% during the 2nd quarter. Rubric Capital Management LP now owns 815,280 shares of the real estate investment trust's stock worth $17,178,000 after buying an additional 421,391 shares during the period. 85.13% of the stock is owned by institutional investors and hedge funds.

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.

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