CoreCivic (NYSE:CXW) Upgraded at StockNews.com

CoreCivic (NYSE:CXW) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Other equities analysts have also recently issued reports about the company. Northland Securities increased their target price on CoreCivic from $17.00 to $19.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Wedbush increased their target price on CoreCivic from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Monday, April 8th.

CoreCivic Stock Down 1.7 %

NYSE CXW traded down $0.26 on Wednesday, reaching $14.86. The company had a trading volume of 403,450 shares, compared to its average volume of 917,720. The firm has a market capitalization of $1.66 billion, a PE ratio of 25.19 and a beta of 0.81. CoreCivic has a 1 year low of $7.84 and a 1 year high of $16.24. The firm has a 50-day moving average of $15.03 and a 200-day moving average of $14.06. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.60 and a quick ratio of 1.60.

CoreCivic (NYSE:CXW) last released its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.17). The business had revenue of $491.25 million for the quarter, compared to analysts’ expectations of $489.62 million. CoreCivic had a net margin of 3.56% and a return on equity of 4.70%. On average, equities research analysts anticipate that CoreCivic will post 1.31 EPS for the current fiscal year.

Insider Activity at CoreCivic

In related news, CEO Damon T. Hininger sold 50,525 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $14.62, for a total transaction of $738,675.50. Following the sale, the chief executive officer now directly owns 820,262 shares of the company’s stock, valued at approximately $11,992,230.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Damon T. Hininger sold 50,525 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $14.62, for a total transaction of $738,675.50. Following the sale, the chief executive officer now directly owns 820,262 shares of the company’s stock, valued at approximately $11,992,230.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Anthony L. Grande sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $14.50, for a total value of $217,500.00. Following the sale, the executive vice president now directly owns 186,692 shares in the company, valued at $2,707,034. The disclosure for this sale can be found here. Corporate insiders own 2.21% of the company’s stock.

Institutional Investors Weigh In On CoreCivic

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in CoreCivic by 1.1% in the first quarter. BlackRock Inc. now owns 18,939,729 shares of the real estate investment trust’s stock worth $174,246,000 after buying an additional 199,682 shares during the period. FMR LLC increased its position in CoreCivic by 0.6% in the third quarter. FMR LLC now owns 8,597,388 shares of the real estate investment trust’s stock worth $96,721,000 after buying an additional 53,395 shares during the period. State Street Corp increased its position in CoreCivic by 1.1% in the second quarter. State Street Corp now owns 4,239,868 shares of the real estate investment trust’s stock worth $47,105,000 after buying an additional 48,018 shares during the period. Cooper Creek Partners Management LLC increased its position in CoreCivic by 24.2% in the third quarter. Cooper Creek Partners Management LLC now owns 3,297,002 shares of the real estate investment trust’s stock worth $37,091,000 after buying an additional 641,576 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of CoreCivic by 1,050.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,138,544 shares of the real estate investment trust’s stock worth $45,603,000 after purchasing an additional 2,865,763 shares in the last quarter. 85.13% of the stock is 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.