CoreCivic (NYSE:CXW) Downgraded by Wall Street Zen to Buy

Wall Street Zen cut shares of CoreCivic (NYSE:CXW) from a strong-buy rating to a buy rating in a research note released on Saturday.

CXW has been the topic of a number of other research reports. Weiss Ratings restated a “hold (c+)” rating on shares of CoreCivic in a report on Wednesday, October 8th. Jones Trading reissued a “buy” rating and issued a $30.00 price target on shares of CoreCivic in a research report on Friday. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $34.00.

CoreCivic Stock Up 0.6%

Shares of NYSE CXW opened at $16.90 on Friday. The stock has a market capitalization of $1.81 billion, a P/E ratio of 17.97 and a beta of 0.68. The company has a 50-day moving average price of $19.45 and a 200-day moving average price of $20.63. CoreCivic has a 1 year low of $16.02 and a 1 year high of $24.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.60 and a quick ratio of 1.60.

CoreCivic (NYSE:CXW) last posted its earnings results on Wednesday, November 5th. The real estate investment trust reported $0.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.48. CoreCivic had a net margin of 5.21% and a return on equity of 7.12%. The company had revenue of $580.44 million for the quarter, compared to analyst estimates of $544.38 million. During the same quarter in the prior year, the business posted $0.43 EPS. The firm’s revenue was up 18.1% compared to the same quarter last year. CoreCivic has set its FY 2025 guidance at 1.940-2.000 EPS. On average, equities research analysts forecast that CoreCivic will post 1.5 EPS for the current fiscal year.

Insider Activity at CoreCivic

In other news, EVP Anthony L. Grande sold 22,500 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $21.18, for a total transaction of $476,550.00. Following the completion of the sale, the executive vice president directly owned 135,559 shares of the company’s stock, valued at $2,871,139.62. This trade represents a 14.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thurgood Marshall, Jr. sold 6,000 shares of CoreCivic stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $20.52, for a total value of $123,120.00. Following the sale, the director owned 44,023 shares in the company, valued at $903,351.96. The trade was a 11.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 51,000 shares of company stock valued at $1,042,545. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of CoreCivic

Several hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. bought a new position in shares of CoreCivic during the 2nd quarter valued at approximately $25,000. Covestor Ltd lifted its stake in CoreCivic by 31,516.7% in the third quarter. Covestor Ltd now owns 1,897 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 1,891 shares during the last quarter. CWM LLC lifted its stake in CoreCivic by 80.1% in the second quarter. CWM LLC now owns 2,186 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 972 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in CoreCivic by 33.0% during the second quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 702 shares during the period. Finally, Harbour Investments Inc. increased its position in CoreCivic by 215.6% in the first quarter. Harbour Investments Inc. now owns 5,337 shares of the real estate investment trust’s stock worth $108,000 after buying an additional 3,646 shares during the last quarter. Institutional investors own 85.13% of the company’s stock.

About CoreCivic

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.