CoreCivic (NYSE:CXW) Shares Pass Above 200-Day Moving Average – Here’s Why

CoreCivic, Inc. (NYSE:CXW) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $19.19 and traded as high as $21.69. CoreCivic shares last traded at $21.06, with a volume of 1,259,193 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CXW shares. Weiss Ratings raised CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Benchmark started coverage on CoreCivic in a report on Tuesday, March 24th. They issued a “buy” rating and a $28.00 target price for the company. JonesTrading reissued a “buy” rating and issued a $30.00 target price on shares of CoreCivic in a report on Friday, February 13th. Finally, Wall Street Zen downgraded CoreCivic from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $32.00.

CoreCivic Trading Down 3.3%

The company has a 50 day simple moving average of $20.39 and a 200 day simple moving average of $19.19. 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 market capitalization of $2.08 billion, a PE ratio of 17.12 and a beta of 0.68.

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

Hedge Funds Weigh In On CoreCivic

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NBC Securities Inc. increased its position in CoreCivic by 533.9% during the 4th quarter. NBC Securities Inc. now owns 1,458 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 1,228 shares during the period. Smartleaf Asset Management LLC increased its position in 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 purchasing an additional 702 shares during the period. Leonteq Securities AG acquired a new position in CoreCivic during the 4th quarter worth approximately $57,000. Fifth Third Bancorp increased its position in CoreCivic by 320.7% during the 4th quarter. Fifth Third Bancorp now owns 3,340 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 2,546 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in CoreCivic during the 4th quarter worth approximately $71,000. Institutional investors and hedge funds own 85.13% of the company’s stock.

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.