CoreCivic (NYSE:CXW) Earns “Outperform” Rating from Wedbush

CoreCivic (NYSE:CXW)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a report issued on Tuesday,RTT News reports. They presently have a $30.00 target price on the real estate investment trust’s stock. Wedbush’s target price would suggest a potential upside of 65.88% from the stock’s previous close.

Separately, Northland Securities increased their target price on CoreCivic from $17.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th.

CoreCivic Trading Down 4.0 %

Shares of CXW traded down $0.76 during trading on Tuesday, reaching $18.09. 4,415,033 shares of the company traded hands, compared to its average volume of 1,277,212. The stock has a 50-day simple moving average of $21.35 and a 200-day simple moving average of $17.28. The stock has a market cap of $1.99 billion, a PE ratio of 26.99 and a beta of 1.00. CoreCivic has a twelve month low of $10.74 and a twelve month high of $24.99. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.66.

CoreCivic (NYSE:CXW) last posted its earnings results on Monday, February 10th. The real estate investment trust reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.06. CoreCivic had a net margin of 3.85% and a return on equity of 6.55%. On average, analysts anticipate that CoreCivic will post 1.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Anthony L. Grande sold 26,000 shares of CoreCivic stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $22.18, for a total value of $576,680.00. Following the completion of the transaction, the executive vice president now owns 127,380 shares in the company, valued at approximately $2,825,288.40. This trade represents a 16.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Emkes sold 16,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $22.70, for a total transaction of $363,200.00. Following the sale, the director now owns 149,264 shares in the company, valued at $3,388,292.80. The trade was a 9.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On CoreCivic

Institutional investors have recently modified their holdings of the company. River Road Asset Management LLC grew its position in shares of CoreCivic by 0.5% in the 3rd quarter. River Road Asset Management LLC now owns 8,611,640 shares of the real estate investment trust’s stock valued at $108,937,000 after buying an additional 40,365 shares during the last quarter. FMR LLC boosted its position in shares of CoreCivic by 3.8% in the 3rd quarter. FMR LLC now owns 5,117,716 shares of the real estate investment trust’s stock valued at $64,739,000 after purchasing an additional 186,310 shares during the period. State Street Corp lifted its stake in CoreCivic by 0.4% in the third quarter. State Street Corp now owns 4,200,268 shares of the real estate investment trust’s stock valued at $53,133,000 after buying an additional 18,415 shares during the last quarter. Geode Capital Management LLC lifted its stake in CoreCivic by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,570,005 shares of the real estate investment trust’s stock valued at $32,517,000 after buying an additional 18,410 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of CoreCivic by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,481,315 shares of the real estate investment trust’s stock valued at $31,389,000 after acquiring an additional 35,591 shares during the period. 85.13% of the stock is owned by hedge funds and other institutional investors.

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.