Brokerages Set CoreCivic, Inc. (NYSE:CXW) PT at $33.33

Shares of CoreCivic, Inc. (NYSE:CXW) have received a consensus rating of “Moderate Buy” from the five analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $33.3333.

A number of brokerages recently commented on CXW. Wall Street Zen upgraded CoreCivic from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Jones Trading reiterated a “buy” rating and issued a $30.00 target price on shares of CoreCivic in a research report on Thursday, August 7th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of CoreCivic in a research report on Wednesday, October 8th.

CoreCivic Price Performance

Shares of NYSE CXW opened at $18.60 on Tuesday. The business’s 50 day moving average price is $19.70 and its 200 day moving average price is $20.77. The firm has a market cap of $1.99 billion, a P/E ratio of 19.78 and a beta of 0.75. CoreCivic has a 52 week low of $12.66 and a 52 week high of $24.99. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.68.

CoreCivic (NYSE:CXW) last issued its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.16. The firm had revenue of $538.17 million for the quarter, compared to analyst estimates of $499.02 million. CoreCivic had a return on equity of 7.12% and a net margin of 5.21%.CoreCivic’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 earnings per share. On average, sell-side analysts expect that CoreCivic will post 1.5 earnings per share for the current year.

Insider Buying and Selling

In other CoreCivic news, EVP Anthony L. Grande sold 22,500 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $21.18, for a total value of $476,550.00. Following the completion of the transaction, the executive vice president directly owned 135,559 shares of the company’s stock, valued at approximately $2,871,139.62. The trade was a 14.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thurgood Marshall, Jr. sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $20.52, for a total value of $123,120.00. Following the completion of the transaction, the director directly owned 44,023 shares of the company’s stock, valued at $903,351.96. The trade was a 11.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 51,000 shares of company stock valued at $1,042,545 over the last three months. 2.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. acquired a new position in CoreCivic in the second quarter valued at approximately $25,000. Covestor Ltd raised its stake in shares of CoreCivic by 31,516.7% during the 3rd quarter. Covestor Ltd now owns 1,897 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 1,891 shares during the period. CWM LLC raised its stake in shares of CoreCivic by 80.1% during the 2nd quarter. CWM LLC now owns 2,186 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 972 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of CoreCivic by 33.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 702 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of CoreCivic by 10.0% during the 1st quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 470 shares during the period. 85.13% of the stock is owned by institutional investors and hedge funds.

About CoreCivic

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.