Zacks Investment Research cut shares of Corecivic (NYSE:CXW) from a hold rating to a sell rating in a report released on Monday.

According to Zacks, “CoreCivic, Inc. is a real estate investment trust which provides correctional, detention and residential reentry facilities. It designs, constructs, owns, manages and renovates jails, prisons, government agencies and inmate transportation companies. CoreCivic, Inc., formerly known as Corrections Corporation of America, is based in Nashville, Tennessee. “

Other research analysts have also recently issued research reports about the company. ValuEngine upgraded Corecivic from a strong sell rating to a sell rating in a research note on Monday, November 12th. Wells Fargo & Co set a $24.00 price target on Corecivic and gave the stock a hold rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. Corecivic has a consensus rating of Hold and an average price target of $28.33.

Shares of CXW opened at $22.17 on Monday. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 9.56, a P/E/G ratio of 1.56 and a beta of 1.05. Corecivic has a 12 month low of $18.61 and a 12 month high of $26.09. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.14 and a current ratio of 1.14.

Corecivic (NYSE:CXW) last issued its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.04). The company had revenue of $462.73 million for the quarter, compared to analyst estimates of $454.79 million. Corecivic had a return on equity of 11.64% and a net margin of 8.88%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.35 EPS. As a group, equities research analysts predict that Corecivic will post 2.3 earnings per share for the current fiscal year.

In related news, CEO Damon T. Hininger sold 35,324 shares of the business’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $25.75, for a total value of $909,593.00. Following the transaction, the chief executive officer now owns 260,082 shares in the company, valued at $6,697,111.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO David Garfinkle sold 5,010 shares of the business’s stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $21.70, for a total value of $108,717.00. Following the completion of the transaction, the chief financial officer now owns 105,082 shares in the company, valued at approximately $2,280,279.40. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

A number of institutional investors have recently made changes to their positions in CXW. Tower Research Capital LLC TRC increased its holdings in Corecivic by 411.3% in the third quarter. Tower Research Capital LLC TRC now owns 6,764 shares of the real estate investment trust’s stock valued at $164,000 after buying an additional 5,441 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Corecivic in the second quarter valued at about $226,000. Virtu Financial LLC bought a new stake in Corecivic in the second quarter valued at about $226,000. Argent Trust Co bought a new stake in Corecivic in the second quarter valued at about $239,000. Finally, Pinebridge Investments L.P. increased its holdings in Corecivic by 254.5% in the second quarter. Pinebridge Investments L.P. now owns 10,032 shares of the real estate investment trust’s stock valued at $240,000 after buying an additional 7,202 shares during the last quarter. 81.67% of the stock is owned by hedge funds and other institutional investors.

Corecivic Company Profile

The Company is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through corrections and detention management, a growing network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.

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