CoreCivic (NYSE:CXW) Hits New 52-Week High – Time to Buy?

Shares of CoreCivic, Inc. (NYSE:CXW) reached a new 52-week high during trading on Thursday . The stock traded as high as $35.30 and last traded at $34.3850, with a volume of 2182199 shares changing hands. The stock had previously closed at $35.05.

Analysts Set New Price Targets

Several research analysts recently issued reports on CXW shares. JonesTrading restated a “buy” rating and set a $30.00 price objective on shares of CoreCivic in a research report on Wednesday, August 5th. Northland Securities set a $40.00 price target on CoreCivic in a report on Friday, June 26th. Wall Street Zen raised CoreCivic from a “hold” rating to a “buy” rating in a research note on Monday, August 10th. Noble Financial reiterated an “outperform” rating on shares of CoreCivic in a research report on Monday, August 10th. Finally, Benchmark lifted their price target on shares of CoreCivic from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, CoreCivic currently has an average rating of “Buy” and a consensus price target of $37.00.

CoreCivic Trading Down 1.9%

The business has a 50 day simple moving average of $32.13 and a 200-day simple moving average of $25.29. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 27.51 and a beta of 0.60.

CoreCivic (NYSE:CXW) last posted its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. The company had revenue of $684.92 million during the quarter, compared to the consensus estimate of $618.63 million. CoreCivic had a net margin of 5.15% and a return on equity of 9.22%. The company’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 EPS. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. On average, equities analysts predict that CoreCivic, Inc. will post 2.69 earnings per share for the current year.

CoreCivic declared that its Board of Directors has approved a stock repurchase program on Monday, August 10th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the real estate investment trust to buy up to 15.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at CoreCivic

In other CoreCivic news, CFO David Garfinkle sold 50,000 shares of CoreCivic stock in a transaction on Monday, August 17th. The shares were sold at an average price of $33.76, for a total value of $1,688,000.00. Following the transaction, the chief financial officer owned 343,353 shares in the company, valued at $11,591,597.28. This trade represents a 12.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Anthony Grande sold 29,199 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $33.61, for a total transaction of $981,378.39. Following the sale, the executive vice president directly owned 164,782 shares of the company’s stock, valued at $5,538,323.02. This represents a 15.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 439,287 shares of company stock valued at $14,734,193 over the last 90 days. 1.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CoreCivic

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its holdings in shares of CoreCivic by 1.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 31,880 shares of the real estate investment trust’s stock worth $603,000 after purchasing an additional 510 shares during the period. State of Wyoming lifted its stake in shares of CoreCivic by 3.1% in the 1st quarter. State of Wyoming now owns 22,172 shares of the real estate investment trust’s stock valued at $419,000 after purchasing an additional 659 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings 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 purchasing an additional 702 shares during the period. Bessemer Group Inc. grew its holdings in shares of CoreCivic by 0.4% during the 1st quarter. Bessemer Group Inc. now owns 166,475 shares of the real estate investment trust’s stock worth $3,148,000 after purchasing an additional 742 shares during the period. Finally, Lazard Asset Management LLC increased its position in CoreCivic by 10.4% during the 2nd quarter. Lazard Asset Management LLC now owns 10,595 shares of the real estate investment trust’s stock worth $223,000 after purchasing an additional 1,002 shares in the last quarter. 85.13% of the stock is currently owned by institutional investors and hedge funds.

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.