CoreCivic, Inc. (NYSE:CXW) Stock Has Average Target Price of $39.40 According to Brokerages

Shares of CoreCivic, Inc. (NYSE:CXW) have been assigned a consensus rating of “Moderate Buy” from the five research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $39.40.

CXW has been the subject of a number of recent research reports. Northland Securities set a $40.00 price objective on shares of CoreCivic in a research report on Friday, June 26th. Noble Financial reissued an “outperform” rating on shares of CoreCivic in a report on Monday, August 10th. TD Cowen reissued a “hold” rating on shares of CoreCivic in a report on Friday. UBS Group set a $35.00 target price on CoreCivic in a research note on Tuesday, July 7th. Finally, Weiss Ratings raised CoreCivic from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, October 13th.

CoreCivic Stock Performance

CXW stock opened at $29.38 on Friday. 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 firm has a market cap of $2.90 billion, a P/E ratio of 23.50 and a beta of 0.57. CoreCivic has a 12-month low of $15.73 and a 12-month high of $36.55. The stock’s 50 day simple moving average is $33.02 and its 200 day simple moving average is $28.36.

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

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

Insider Transactions at CoreCivic

In other CoreCivic news, EVP Daren Swenson sold 20,000 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $34.85, for a total value of $697,000.00. Following the sale, the executive vice president directly owned 142,666 shares in the company, valued at approximately $4,971,910.10. This trade represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David Garfinkle sold 50,000 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $33.96, for a total transaction of $1,698,000.00. Following the transaction, the chief financial officer directly owned 293,353 shares of the company’s stock, valued at approximately $9,962,267.88. This trade represents a 14.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 459,287 shares of company stock valued at $15,431,193 over the last three months. 1.76% of the stock is currently owned by company insiders.

Institutional Trading of CoreCivic

Several hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in CoreCivic by 48.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,340 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 437 shares during the period. USA Financial Formulas bought a new position in CoreCivic in the 3rd quarter worth about $48,000. Persistent Asset Partners Ltd acquired a new stake in shares of CoreCivic in the second quarter valued at approximately $52,000. Public Employees Retirement System of Ohio acquired a new stake in shares of CoreCivic in the second quarter valued at approximately $120,000. Finally, State of Wyoming acquired a new stake in shares of CoreCivic in the second quarter valued at approximately $205,000. 85.13% of the stock is currently owned by institutional investors.

About CoreCivic

CoreCivic, Inc is a diversified government solutions company that owns, manages and develops correctional and detention facilities in the United States. The company provides detention and corrections services to federal, state and local government agencies, primarily under contracts that call for the housing and care of individuals in custody.

In addition to secure facilities, CoreCivic operates residential reentry centers and provides community-based services designed to support individuals transitioning from incarceration.