Wedbush reissued their outperform rating on shares of CoreCivic (NYSE:CXW - Free Report) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $38.00 target price on the real estate investment trust's stock.
Other analysts have also recently issued research reports about the stock. Noble Financial upgraded shares of CoreCivic from a "market perform" rating to an "outperform" rating in a research report on Wednesday, February 12th. Wall Street Zen raised shares of CoreCivic from a "hold" rating to a "buy" rating in a research report on Monday.
Read Our Latest Analysis on CXW
CoreCivic Stock Down 3.9%
Shares of NYSE CXW traded down $0.84 on Wednesday, hitting $20.64. The company had a trading volume of 112,579 shares, compared to its average volume of 1,131,811. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 0.65. CoreCivic has a 12-month low of $11.23 and a 12-month high of $24.99. The business has a 50 day moving average of $21.88 and a two-hundred day moving average of $21.04. The firm has a market capitalization of $2.25 billion, a P/E ratio of 33.86 and a beta of 0.79.
CoreCivic (NYSE:CXW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.10. CoreCivic had a net margin of 3.51% and a return on equity of 5.97%. The company had revenue of $488.60 million for the quarter, compared to analysts' expectations of $478.49 million. During the same quarter in the previous year, the company posted $0.46 EPS. The business's revenue was down 2.4% compared to the same quarter last year. As a group, equities research analysts forecast that CoreCivic will post 1.5 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Stacia Hylton sold 4,000 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $21.69, for a total transaction of $86,760.00. Following the sale, the director now directly owns 82,969 shares in the company, valued at approximately $1,799,597.61. The trade was a 4.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Lucibeth Mayberry sold 75,000 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $21.49, for a total value of $1,611,750.00. Following the completion of the transaction, the executive vice president now directly owns 211,232 shares in the company, valued at approximately $4,539,375.68. This represents a 26.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,246 shares of company stock worth $4,061,215 in the last quarter. Insiders own 2.30% of the company's stock.
Hedge Funds Weigh In On CoreCivic
A number of institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in CoreCivic by 10.0% in the 1st quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust's stock valued at $105,000 after acquiring an additional 470 shares during the last quarter. Bank of Montreal Can boosted its position in CoreCivic by 8.0% during the fourth quarter. Bank of Montreal Can now owns 12,742 shares of the real estate investment trust's stock valued at $277,000 after purchasing an additional 944 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in CoreCivic by 2.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,000 shares of the real estate investment trust's stock valued at $1,348,000 after buying an additional 1,322 shares in the last quarter. State of Wyoming grew its stake in CoreCivic by 7.5% during the 4th quarter. State of Wyoming now owns 20,796 shares of the real estate investment trust's stock valued at $452,000 after purchasing an additional 1,443 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in CoreCivic by 318.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,442 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 1,859 shares during the period. 85.13% of the stock is currently owned by hedge funds and other institutional investors.
About CoreCivic
(
Get Free Report)
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.
See Also
Before you consider CoreCivic, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CoreCivic wasn't on the list.
While CoreCivic currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
