CoreCivic (NYSE:CXW) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of CoreCivic (NYSE:CXW) from a buy rating to a hold rating in a research report released on Saturday morning,Wall Street Zen reports.

A number of other analysts have also weighed in on CXW. UBS Group set a $35.00 price objective on shares of CoreCivic in a research note on Tuesday, July 7th. Benchmark boosted their target price on shares of CoreCivic from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Weiss Ratings raised shares of CoreCivic from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, October 13th. Noble Financial reaffirmed an “outperform” rating on shares of CoreCivic in a report on Monday, August 10th. Finally, Northland Securities set a $40.00 price target on CoreCivic in a research report on Friday, June 26th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.40.

CoreCivic Trading Down 0.5%

Shares of NYSE:CXW opened at $29.88 on Friday. CoreCivic has a 52-week low of $15.73 and a 52-week high of $36.55. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 23.91 and a beta of 0.57. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.86. The business has a 50-day moving average price of $32.87 and a 200-day moving average price of $25.51.

CoreCivic (NYSE:CXW) last released its earnings results 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. The firm had revenue of $684.92 million during the quarter, compared to the consensus estimate of $618.63 million. CoreCivic had a return on equity of 9.22% and a net margin of 5.15%. The company’s revenue was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. Equities analysts predict that CoreCivic will post 2.69 EPS for the current year.

CoreCivic announced that its board has approved a share buyback plan on Monday, August 10th that allows the company to repurchase $500 million in shares. This repurchase authorization allows the real estate investment trust to repurchase up to 15.7% of its shares through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at CoreCivic

In related news, EVP Anthony Grande sold 29,199 shares of CoreCivic stock in a transaction on Monday, August 17th. The shares were sold at an average price of $33.61, for a total value of $981,378.39. Following the sale, the executive vice president owned 164,782 shares of the company’s stock, valued at approximately $5,538,323.02. This trade represents a 15.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Emkes sold 30,000 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $34.25, for a total transaction of $1,027,500.00. Following the completion of the sale, the director directly owned 141,274 shares of the company’s stock, valued at approximately $4,838,634.50. The trade was a 17.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 459,287 shares of company stock worth $15,431,193. 1.76% of the stock is currently owned by corporate insiders.

Institutional Trading of CoreCivic

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of CoreCivic in the 2nd quarter valued at $480,557,000. Assenagon Asset Management S.A. purchased a new position in shares of CoreCivic during the 3rd quarter worth $93,789,000. Lee Danner & Bass Inc. grew its holdings in shares of CoreCivic by 273.1% during the 1st quarter. Lee Danner & Bass Inc. now owns 2,173,498 shares of the real estate investment trust’s stock worth $41,101,000 after purchasing an additional 1,590,940 shares during the period. Park West Asset Management LLC acquired a new stake in shares of CoreCivic during the 2nd quarter worth about $27,310,000. Finally, JB Capital Partners LP acquired a new stake in shares of CoreCivic during the 2nd quarter worth about $25,677,480. 85.13% of the stock is owned by institutional investors and hedge funds.

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.