CoreCivic (NYSE:CXW) Raised to “Buy” at Wall Street Zen

CoreCivic (NYSE:CXW) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Monday.

Other research analysts have also issued reports about the company. Noble Financial raised CoreCivic from a “market perform” rating to an “outperform” rating in a report on Wednesday, February 12th. Wedbush reaffirmed an “outperform” rating and set a $30.00 price objective on shares of CoreCivic in a research report on Tuesday, February 11th.

CoreCivic Price Performance

Shares of NYSE CXW opened at $21.87 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.57 and a quick ratio of 1.51. The business has a 50-day moving average of $21.80 and a 200-day moving average of $21.04. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 35.84 and a beta of 0.79. CoreCivic has a fifty-two week low of $10.74 and a fifty-two week high of $24.99.

CoreCivic (NYSE:CXW) last posted its quarterly earnings results on Wednesday, May 7th. The real estate investment trust reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.10. CoreCivic had a return on equity of 5.97% and a net margin of 3.51%. The firm had revenue of $488.60 million during the quarter, compared to the consensus estimate of $478.49 million. During the same period last year, the company earned $0.46 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that CoreCivic will post 1.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Lucibeth Mayberry sold 75,000 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $21.49, for a total value of $1,611,750.00. Following the completion of the sale, the executive vice president now directly owns 211,232 shares in the company, valued at $4,539,375.68. The trade was a 26.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Anthony L. Grande sold 10,000 shares of the business’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $22.22, for a total value of $222,200.00. Following the completion of the sale, the executive vice president now owns 180,559 shares of the company’s stock, valued at $4,012,020.98. This trade represents a 5.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 184,246 shares of company stock valued at $4,061,215. Company insiders own 2.30% of the company’s stock.

Institutional Trading of CoreCivic

A number of institutional investors have recently bought and sold shares of CXW. Barclays PLC boosted its holdings in CoreCivic by 312.4% in the 3rd quarter. Barclays PLC now owns 184,332 shares of the real estate investment trust’s stock valued at $2,331,000 after purchasing an additional 139,631 shares during the period. Empowered Funds LLC bought a new stake in shares of CoreCivic in the fourth quarter valued at approximately $1,477,000. Principal Financial Group Inc. boosted its stake in shares of CoreCivic by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 534,687 shares of the real estate investment trust’s stock valued at $11,624,000 after buying an additional 14,892 shares during the period. Allianz Asset Management GmbH boosted its stake in shares of CoreCivic by 11.4% in the fourth quarter. Allianz Asset Management GmbH now owns 1,513,031 shares of the real estate investment trust’s stock valued at $32,893,000 after buying an additional 154,426 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of CoreCivic by 55.2% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 38,264 shares of the real estate investment trust’s stock valued at $832,000 after acquiring an additional 13,617 shares during the period. Institutional investors own 85.13% of the company’s stock.

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.