CoreCivic (NYSE:CXW) Given "Buy" Rating at Jones Trading

CoreCivic (NYSE:CXW - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Jones Trading in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $30.00 price objective on the real estate investment trust's stock. Jones Trading's price objective points to a potential upside of 43.88% from the stock's previous close.

CXW has been the subject of several other research reports. Wedbush restated an "outperform" rating and issued a $38.00 price objective on shares of CoreCivic in a report on Wednesday, June 11th. Wall Street Zen cut CoreCivic from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, CoreCivic has a consensus rating of "Moderate Buy" and a consensus target price of $33.33.

CoreCivic Stock Down 2.3%

CXW stock traded down $0.49 during trading hours on Friday, reaching $20.85. 1,442,313 shares of the stock were exchanged, compared to its average volume of 1,127,285. The firm's 50-day moving average is $21.55 and its 200-day moving average is $20.94. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 27.43 and a beta of 0.77. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.55 and a quick ratio of 1.55. CoreCivic has a 12 month low of $11.82 and a 12 month high of $24.99.

CoreCivic (NYSE:CXW - Get Free Report) last released its earnings results on Wednesday, May 7th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.10. The firm had revenue of $488.60 million during the quarter, compared to analysts' expectations of $478.49 million. CoreCivic had a return on equity of 5.75% and a net margin of 4.33%. The company's revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 EPS. On average, equities research analysts expect that CoreCivic will post 1.5 earnings per share for the current year.

Insider Buying and Selling at CoreCivic

In related news, EVP Lucibeth Mayberry sold 75,000 shares of CoreCivic stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $21.49, for a total transaction of $1,611,750.00. Following the completion of the transaction, the executive vice president owned 211,232 shares in the company, valued at approximately $4,539,375.68. This trade represents a 26.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Damon T. Hininger sold 72,246 shares of CoreCivic stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $22.50, for a total value of $1,625,535.00. Following the transaction, the chief executive officer owned 879,324 shares of the company's stock, valued at $19,784,790. The trade was a 7.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 184,246 shares of company stock valued at $4,061,215 in the last three months. Corporate insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On CoreCivic

A number of hedge funds and other institutional investors have recently bought and sold shares of CXW. Meeder Asset Management Inc. bought a new position in CoreCivic during the fourth quarter worth about $43,000. Copia Wealth Management acquired a new stake in CoreCivic during the fourth quarter worth approximately $82,000. Russell Investments Group Ltd. lifted its position in CoreCivic by 86,300.0% during the fourth quarter. Russell Investments Group Ltd. now owns 4,320 shares of the real estate investment trust's stock worth $94,000 after acquiring an additional 4,315 shares during the last quarter. GAMMA Investing LLC lifted its position in CoreCivic by 10.0% during the first quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust's stock worth $105,000 after acquiring an additional 470 shares during the last quarter. Finally, Harbour Investments Inc. lifted its position in CoreCivic by 215.6% during the first quarter. Harbour Investments Inc. now owns 5,337 shares of the real estate investment trust's stock worth $108,000 after acquiring an additional 3,646 shares during the last quarter. Institutional investors own 85.13% of the company's stock.

CoreCivic Company Profile

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.