Wedbush Increases CoreCivic (NYSE:CXW) Price Target to $18.00

CoreCivic (NYSE:CXWFree Report) had its price target boosted by Wedbush from $17.00 to $18.00 in a research report report published on Friday morning, Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock. Wedbush also issued estimates for CoreCivic’s Q1 2024 earnings at $0.39 EPS, Q1 2024 earnings at $0.37 EPS, Q2 2024 earnings at $0.35 EPS, Q2 2024 earnings at $0.36 EPS, Q3 2024 earnings at $0.39 EPS, Q4 2024 earnings at $0.40 EPS, FY2024 earnings at $1.54 EPS, FY2025 earnings at $1.77 EPS and FY2025 earnings at $1.76 EPS.

Several other equities research analysts have also recently commented on CXW. StockNews.com cut CoreCivic from a buy rating to a hold rating in a research note on Saturday, February 3rd. Northland Securities initiated coverage on CoreCivic in a research note on Thursday, October 19th. They set an outperform rating and a $16.00 price objective on the stock.

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CoreCivic Price Performance

Shares of CXW opened at $14.69 on Friday. The firm has a market capitalization of $1.67 billion, a PE ratio of 24.89 and a beta of 0.81. The stock has a 50 day simple moving average of $14.25 and a 200 day simple moving average of $12.53. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.38 and a current ratio of 1.60. CoreCivic has a 52-week low of $7.84 and a 52-week high of $15.17.

Insider Buying and Selling at CoreCivic

In other CoreCivic news, EVP Cole G. Carter sold 39,345 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $13.53, for a total value of $532,337.85. Following the transaction, the executive vice president now directly owns 181,817 shares of the company’s stock, valued at approximately $2,459,984.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.89% of the company’s stock.

Institutional Trading of CoreCivic

Several large investors have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new stake in CoreCivic in the fourth quarter valued at about $29,000. Criterion Capital Advisors LLC bought a new position in CoreCivic in the fourth quarter valued at about $32,000. Quantbot Technologies LP bought a new position in shares of CoreCivic during the first quarter worth about $36,000. Quarry LP bought a new position in shares of CoreCivic during the first quarter worth about $57,000. Finally, Lazard Asset Management LLC acquired a new stake in CoreCivic during the second quarter worth approximately $58,000. 80.89% of the stock is owned by institutional investors and hedge funds.

CoreCivic Company Profile

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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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