CoreCivic (NYSE:CXW) Upgraded to Outperform at Wedbush

CoreCivic (NYSE:CXW) was upgraded by equities research analysts at Wedbush from a “neutral” rating to an “outperform” rating in a report released on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $30.00 target price on the real estate investment trust’s stock, up from their previous target price of $19.00. Wedbush’s price objective indicates a potential upside of 37.43% from the company’s previous close. Wedbush also issued estimates for CoreCivic’s Q1 2025 earnings at $0.39 EPS, Q2 2025 earnings at $0.42 EPS, Q3 2025 earnings at $0.45 EPS, Q4 2025 earnings at $0.46 EPS, FY2025 earnings at $1.71 EPS and FY2026 earnings at $0.00 EPS.

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

CoreCivic Stock Performance

NYSE:CXW opened at $21.83 on Tuesday. The stock has a market cap of $2.41 billion, a P/E ratio of 32.58 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.66. The business’s 50-day moving average price is $17.80 and its two-hundred day moving average price is $14.91. CoreCivic has a twelve month low of $10.74 and a twelve month high of $24.99.

Insider Activity at CoreCivic

In other CoreCivic news, CFO David Garfinkle sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $24.20, for a total value of $1,210,000.00. Following the completion of the sale, the chief financial officer now owns 276,528 shares of the company’s stock, valued at $6,691,977.60. This represents a 15.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anne L. Mariucci sold 10,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the transaction, the director now owns 101,936 shares in the company, valued at $2,446,464. The trade was a 8.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,000 shares of company stock valued at $2,490,520 over the last 90 days. 2.21% of the stock is owned by insiders.

Hedge Funds Weigh In On CoreCivic

A number of large investors have recently added to or reduced their stakes in CXW. Headlands Technologies LLC purchased a new stake in CoreCivic during the second quarter valued at about $29,000. nVerses Capital LLC purchased a new stake in CoreCivic during the 2nd quarter valued at about $40,000. GAMMA Investing LLC grew its position in CoreCivic by 77.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,733 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 1,632 shares during the last quarter. Innealta Capital LLC purchased a new position in CoreCivic in the 2nd quarter worth approximately $87,000. Finally, Chesapeake Capital Corp IL bought a new stake in CoreCivic in the third quarter valued at approximately $139,000. Hedge funds and other institutional investors own 85.13% of the company’s stock.

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.