CoreCivic's (CXW) "Buy" Rating Reiterated at Jones Trading

Key Points

• CoreCivic's stock received a **"buy" rating** from Jones Trading, with a price target of **$30.00**, indicating a potential upside of nearly **50%** from its previous close.
• The company has a **consensus rating of "Moderate Buy"**, with an average target price of **$33.33** among analysts, despite some recent downgrades from other firms.
• CoreCivic recently reported **earnings that exceeded estimates**, posting a net income of **$0.59 EPS** and a revenue of **$538.17 million**, marking a **9.8% year-over-year increase**.

CoreCivic (NYSE:CXW - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Jones Trading in a research note issued on Thursday,Benzinga reports. They currently have a $30.00 price objective on the real estate investment trust's stock. Jones Trading's price objective indicates a potential upside of 49.89% from the company's previous close.

Several other research analysts have also weighed in on the stock. Wall Street Zen lowered shares of CoreCivic from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Wedbush reiterated an "outperform" rating and issued a $38.00 price target on shares of CoreCivic in a research note on Wednesday, June 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, CoreCivic has a consensus rating of "Moderate Buy" and a consensus target price of $33.33.

CoreCivic Stock Up 2.1%

CXW traded up $0.42 on Thursday, reaching $20.02. The company's stock had a trading volume of 2,005,522 shares, compared to its average volume of 1,120,000. CoreCivic has a 1 year low of $12.13 and a 1 year high of $24.99. The business's 50 day moving average is $20.99 and its 200 day moving average is $20.74. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 26.34 and a beta of 0.80.

CoreCivic (NYSE:CXW - Get Free Report) last released its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 EPS for the quarter, beating the consensus estimate of $0.43 by $0.16. The company had revenue of $538.17 million during the quarter, compared to analysts' expectations of $499.02 million. CoreCivic had a return on equity of 5.75% and a net margin of 4.33%. The business's revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 EPS. As a group, research analysts forecast that CoreCivic will post 1.5 EPS for the current fiscal year.

Insider Activity at CoreCivic

In related news, EVP Lucibeth Mayberry sold 75,000 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $21.49, for a total transaction of $1,611,750.00. Following the sale, the executive vice president owned 211,232 shares in the company, valued at $4,539,375.68. This represents a 26.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stacia Hylton sold 4,000 shares of CoreCivic stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $21.69, for a total value of $86,760.00. Following the completion of the transaction, the director owned 82,969 shares of the company's stock, valued at approximately $1,799,597.61. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 184,246 shares of company stock valued at $4,061,215 in the last ninety days. 2.30% of the stock is owned by insiders.

Institutional Trading of CoreCivic

A number of institutional investors and hedge funds have recently made changes to their positions in CXW. Philadelphia Financial Management of San Francisco LLC bought a new position in CoreCivic in the 1st quarter worth about $18,186,000. Millennium Management LLC grew its stake in shares of CoreCivic by 88.4% in the fourth quarter. Millennium Management LLC now owns 1,261,944 shares of the real estate investment trust's stock worth $27,435,000 after purchasing an additional 592,070 shares in the last quarter. Cooper Creek Partners Management LLC increased its holdings in shares of CoreCivic by 9.9% during the fourth quarter. Cooper Creek Partners Management LLC now owns 6,127,227 shares of the real estate investment trust's stock valued at $133,206,000 after purchasing an additional 553,336 shares during the period. Nuveen LLC bought a new stake in shares of CoreCivic during the first quarter valued at about $10,629,000. Finally, Forest Avenue Capital Management LP acquired a new stake in CoreCivic in the fourth quarter worth about $11,205,000. 85.13% of the stock is currently owned by institutional investors and hedge funds.

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.

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