CoreCivic (NYSE:CXW) Sets New 12-Month High - What's Next?

Shares of CoreCivic, Inc. (NYSE:CXW - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $35.30 and last traded at $34.3850, with a volume of 2182199 shares trading hands. The stock had previously closed at $35.05.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CXW. Northland Securities set a $40.00 price target on CoreCivic in a research note on Friday, June 26th. Weiss Ratings upgraded shares of CoreCivic from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, July 1st. Wall Street Zen raised shares of CoreCivic from a "hold" rating to a "buy" rating in a research note on Monday, August 10th. JonesTrading restated a "buy" rating and issued a $30.00 target price on shares of CoreCivic in a research note on Wednesday, August 5th. Finally, UBS Group set a $35.00 target price on shares of CoreCivic in a report on Tuesday, July 7th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, CoreCivic currently has a consensus rating of "Buy" and a consensus price target of $37.00.

CoreCivic Stock Performance

The company has a debt-to-equity ratio of 0.86, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $3.40 billion, a PE ratio of 27.51 and a beta of 0.60. The stock has a 50 day moving average of $32.13 and a two-hundred day moving average of $25.29.

CoreCivic (NYSE:CXW - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04. CoreCivic had a return on equity of 9.22% and a net margin of 5.15%.The firm had revenue of $684.92 million during the quarter, compared to analysts' expectations of $618.63 million. During the same quarter in the prior year, the business posted $0.59 earnings per share. CoreCivic's revenue was up 27.3% compared to the same quarter last year. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. Research analysts expect that CoreCivic, Inc. will post 2.69 EPS for the current fiscal year.

CoreCivic declared that its Board of Directors has initiated a share buyback plan on Monday, August 10th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 15.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Activity at CoreCivic

In other CoreCivic news, Director John R. Prann, Jr. sold 3,098 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $34.00, for a total value of $105,332.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company's stock, valued at approximately $170,000. This trade represents a 38.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Anthony L. Grande sold 12,564 shares of CoreCivic stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $33.85, for a total transaction of $425,291.40. Following the sale, the executive vice president owned 144,782 shares of the company's stock, valued at approximately $4,900,870.70. The trade was a 7.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 439,287 shares of company stock worth $14,734,193 over the last three months. 1.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CoreCivic

A number of institutional investors and hedge funds have recently modified their holdings of CXW. BlackRock Inc. purchased a new stake in CoreCivic during the second quarter worth $480,557,000. River Road Asset Management LLC grew its holdings in CoreCivic by 3.3% in the fourth quarter. River Road Asset Management LLC now owns 8,978,240 shares of the real estate investment trust's stock valued at $171,574,000 after purchasing an additional 287,108 shares during the last quarter. Lee Danner & Bass Inc. increased its position in shares of CoreCivic by 273.1% in the first quarter. Lee Danner & Bass Inc. now owns 2,173,498 shares of the real estate investment trust's stock valued at $41,101,000 after buying an additional 1,590,940 shares in the last quarter. Rubric Capital Management LP grew its stake in CoreCivic by 5.0% in the 1st quarter. Rubric Capital Management LP now owns 2,059,216 shares of the real estate investment trust's stock valued at $38,940,000 after acquiring an additional 97,770 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in CoreCivic by 361.3% in 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 during the last quarter. Institutional investors and hedge funds own 85.13% of the company's stock.

About CoreCivic

CoreCivic, Inc NYSE: CXW is a real estate investment trust specializing in the ownership, management and operation of private correctional and detention facilities in the United States. The company enters into contracts with federal, state and local government agencies to house inmates and detainees in facilities that it owns or operates on a concession basis. In addition to traditional prison operations, CoreCivic provides specialized services such as community-based reentry programs, electronic monitoring and rehabilitation initiatives aimed at reducing recidivism.

CoreCivic's portfolio encompasses a mix of adult correctional facilities, immigration detention centers, residential reentry centers and other community-based programs.

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