CoreCivic (NYSE:CXW) Sets New 52-Week High – Here’s What Happened

CoreCivic, Inc. (NYSE:CXW) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $26.97 and last traded at $26.5440, with a volume of 2275863 shares. The stock had previously closed at $25.18.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wall Street Zen downgraded CoreCivic from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Benchmark assumed coverage on CoreCivic in a report on Tuesday, March 24th. They set a “buy” rating and a $28.00 price target for the company. JonesTrading reaffirmed a “buy” rating and set a $30.00 price target on shares of CoreCivic in a report on Friday, February 13th. Finally, Weiss Ratings raised CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 29th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $29.00.

CoreCivic Price Performance

The company has a market capitalization of $2.62 billion, a PE ratio of 21.58 and a beta of 0.67. 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 stock has a fifty day simple moving average of $20.98 and a 200-day simple moving average of $19.57.

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

Institutional Trading of CoreCivic

Institutional investors and hedge funds have recently made changes to their positions in the company. NBC Securities Inc. lifted its holdings in shares of CoreCivic by 533.9% in the 4th quarter. NBC Securities Inc. now owns 1,458 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 1,228 shares during the last quarter. Leonteq Securities AG purchased a new stake in shares of CoreCivic in the 4th quarter valued at about $57,000. Smartleaf Asset Management LLC lifted its holdings in shares of CoreCivic by 33.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 702 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of CoreCivic by 320.7% in the 4th quarter. Fifth Third Bancorp now owns 3,340 shares of the real estate investment trust’s stock valued at $64,000 after purchasing an additional 2,546 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in shares of CoreCivic in the 4th quarter valued at about $71,000. 85.13% of the stock is owned by hedge funds and other institutional investors.

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.