Northland Securities Raises CoreCivic (NYSE:CXW) Price Target to $19.00

CoreCivic (NYSE:CXW) had its price target raised by Northland Securities from $17.00 to $19.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

Several other research analysts have also issued reports on the company. Wedbush reissued an outperform rating and issued a $18.00 target price on shares of CoreCivic in a research report on Thursday, March 21st. StockNews.com lowered CoreCivic from a buy rating to a hold rating in a research report on Thursday, February 22nd.

CoreCivic Trading Down 0.3 %

CXW opened at $15.61 on Tuesday. The business has a 50 day simple moving average of $14.78 and a two-hundred day simple moving average of $13.59. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 26.46 and a beta of 0.81. 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 has a one year low of $7.84 and a one year high of $16.24.

CoreCivic (NYSE:CXW) last released its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.17). The business had revenue of $491.25 million for the quarter, compared to the consensus estimate of $489.62 million. CoreCivic had a net margin of 3.56% and a return on equity of 4.70%. Analysts predict that CoreCivic will post 1.3 EPS for the current year.

Insider Activity at CoreCivic

In related news, EVP Anthony L. Grande sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $14.50, for a total transaction of $217,500.00. Following the completion of the transaction, the executive vice president now owns 186,692 shares of the company’s stock, valued at approximately $2,707,034. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other CoreCivic news, CEO Damon T. Hininger sold 50,525 shares of the stock in a transaction 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 in the company, valued at approximately $11,992,230.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Anthony L. Grande sold 15,000 shares of the stock in a transaction 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 owns 186,692 shares in the company, valued at $2,707,034. The disclosure for this sale can be found here. 1.89% of the stock is owned by corporate insiders.

Institutional Trading of CoreCivic

Several institutional investors have recently added to or reduced their stakes in CXW. BlackRock Inc. boosted its stake in shares of CoreCivic by 1.1% in the 1st 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 last quarter. FMR LLC lifted its position in CoreCivic by 0.6% during the third quarter. FMR LLC now owns 8,597,388 shares of the real estate investment trust’s stock valued at $96,721,000 after purchasing an additional 53,395 shares in the last quarter. State Street Corp raised its holdings in CoreCivic by 1.1% during the second quarter. State Street Corp now owns 4,239,868 shares of the real estate investment trust’s stock valued at $47,105,000 after acquiring an additional 48,018 shares during the period. Cooper Creek Partners Management LLC raised its holdings in CoreCivic by 24.2% during the third quarter. Cooper Creek Partners Management LLC now owns 3,297,002 shares of the real estate investment trust’s stock valued at $37,091,000 after acquiring an additional 641,576 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in CoreCivic by 1,050.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,138,544 shares of the real estate investment trust’s stock valued at $45,603,000 after acquiring an additional 2,865,763 shares during the period. 85.13% of the stock is currently owned by hedge funds and other institutional investors.

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.