CoreCivic (NYSE:CXW) Earns "Hold (C+)" Rating from Weiss Ratings

Key Points

• CoreCivic has received a "Hold (C+)" rating from Weiss Ratings, while Jones Trading maintains a "buy" rating with a $30 target price.
• The company reported earnings of $0.59 per share for the last quarter, exceeding the consensus estimate of $0.43, with a revenue increase of 9.8% year-over-year.
• Insiders have sold 51,000 shares of CoreCivic stock worth over $1 million in the last 90 days, indicating significant insider trading activity.

CoreCivic (NYSE:CXW - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

Other equities analysts have also recently issued reports about the company. Jones Trading reissued a "buy" rating and issued a $30.00 target price on shares of CoreCivic in a report on Thursday, August 7th. Wall Street Zen upgraded CoreCivic from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $33.33.

CoreCivic Stock Performance

CoreCivic stock traded up $0.09 on Friday, hitting $18.81. The company's stock had a trading volume of 458,431 shares, compared to its average volume of 857,246. The company has a fifty day moving average price of $19.92 and a 200-day moving average price of $20.85. The firm has a market cap of $2.01 billion, a P/E ratio of 20.01 and a beta of 0.75. CoreCivic has a one year low of $12.66 and a one year high of $24.99. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.68.

CoreCivic (NYSE:CXW - Get Free Report) last issued 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 net margin of 5.21% and a return on equity of 7.12%. The business had revenue of $538.17 million for the quarter, compared to analyst estimates of $499.02 million. During the same period in the previous year, the business earned $0.42 EPS. The firm's revenue was up 9.8% on a year-over-year basis. On average, equities analysts anticipate that CoreCivic will post 1.5 earnings per share for the current year.

Insider Buying and Selling at CoreCivic

In other CoreCivic news, EVP Anthony L. Grande sold 22,500 shares of the firm's stock in a transaction dated Thursday, September 11th. The shares were 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 in the company, valued at approximately $2,871,139.62. This trade represents a 14.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thurgood Marshall, Jr. sold 6,000 shares of the business's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $20.52, for a total transaction of $123,120.00. Following the completion of the transaction, the director directly owned 44,023 shares of the company's stock, valued at approximately $903,351.96. This represents a 11.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,000 shares of company stock worth $1,042,545 in the last 90 days. Company insiders own 2.30% of the company's stock.

Institutional Trading of CoreCivic

A number of hedge funds and other institutional investors have recently modified their holdings of CXW. Vanguard Group Inc. lifted its holdings in CoreCivic by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 12,215,492 shares of the real estate investment trust's stock worth $247,852,000 after buying an additional 267,198 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of CoreCivic by 2.3% during the first quarter. Principal Financial Group Inc. now owns 547,061 shares of the real estate investment trust's stock worth $11,100,000 after acquiring an additional 12,374 shares during the last quarter. Raymond James Financial Inc. lifted its stake in shares of CoreCivic by 3.0% during the first quarter. Raymond James Financial Inc. now owns 555,671 shares of the real estate investment trust's stock valued at $11,275,000 after acquiring an additional 15,996 shares during the period. Victory Capital Management Inc. lifted its stake in shares of CoreCivic by 433.2% during the first quarter. Victory Capital Management Inc. now owns 109,996 shares of the real estate investment trust's stock valued at $2,232,000 after acquiring an additional 89,365 shares during the period. Finally, Hourglass Capital LLC boosted its holdings in CoreCivic by 34.4% in the first quarter. Hourglass Capital LLC now owns 163,170 shares of the real estate investment trust's stock valued at $3,311,000 after acquiring an additional 41,790 shares during the last quarter. Institutional investors and hedge funds own 85.13% of the company's stock.

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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