CoreCivic (NYSE:CXW) Sets New 12-Month High – Here’s Why

CoreCivic, Inc. (NYSE:CXW) shares hit a new 52-week high during trading on Friday . The company traded as high as $23.43 and last traded at $23.2220, with a volume of 189724 shares trading hands. The stock had previously closed at $23.06.

Analyst Ratings Changes

A number of brokerages have commented on CXW. JonesTrading reiterated a “buy” rating and issued a $30.00 price objective on shares of CoreCivic in a research report on Friday, February 13th. Wall Street Zen lowered CoreCivic from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 29th. Finally, Benchmark initiated coverage on CoreCivic in a research note on Tuesday, March 24th. They issued a “buy” rating and a $28.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $32.00.

CoreCivic Stock Performance

The stock has a 50 day moving average price of $20.55 and a two-hundred day moving average price of $19.33. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.99. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 18.87 and a beta of 0.67.

CoreCivic (NYSE:CXW) last posted its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.16). The company had revenue of $614.73 million during the quarter, compared to analyst estimates of $604.48 million. CoreCivic had a net margin of 5.53% and a return on equity of 9.29%. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period last year, the company earned $0.45 EPS. CoreCivic has set its FY 2026 guidance at 2.580-2.680 EPS. Analysts predict that CoreCivic, Inc. will post 2.66 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its stake in shares of CoreCivic by 43.6% in the 1st quarter. Bank of America Corp DE now owns 236,346 shares of the real estate investment trust’s stock valued at $4,469,000 after purchasing an additional 71,756 shares during the period. Rubric Capital Management LP raised its stake in CoreCivic by 5.0% during the 1st quarter. Rubric Capital Management LP now owns 2,059,216 shares of the real estate investment trust’s stock worth $38,940,000 after buying an additional 97,770 shares during the period. Empowered Funds LLC acquired a new stake in CoreCivic during the 1st quarter worth $4,785,000. Quantinno Capital Management LP raised its stake in CoreCivic by 316.4% during the 1st quarter. Quantinno Capital Management LP now owns 80,070 shares of the real estate investment trust’s stock worth $1,514,000 after buying an additional 60,841 shares during the period. Finally, Weiss Asset Management LP acquired a new stake in CoreCivic during the 1st quarter worth $2,015,000. 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.