CoreCivic (NYSE:CXW) Upgraded by Noble Financial to Outperform Rating

CoreCivic (NYSE:CXW) was upgraded by equities researchers at Noble Financial from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday,Finviz reports.

A number of other equities research analysts have also recently weighed in on the stock. Wedbush reissued an “outperform” rating and issued a $30.00 price target on shares of CoreCivic in a research report on Tuesday. Northland Securities upped their target price on CoreCivic from $17.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, November 8th.

CoreCivic Price Performance

CXW stock opened at $18.09 on Wednesday. The business has a 50 day moving average price of $21.35 and a 200 day moving average price of $17.28. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 26.99 and a beta of 1.00. CoreCivic has a fifty-two week low of $10.74 and a fifty-two week high of $24.99.

CoreCivic (NYSE:CXW) last issued its quarterly earnings data on Monday, February 10th. The real estate investment trust reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.06. CoreCivic had a net margin of 3.85% and a return on equity of 6.55%. Equities research analysts anticipate that CoreCivic will post 1.64 earnings per share for the current fiscal year.

Insider Activity at CoreCivic

In other news, Director Mark A. Emkes sold 16,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $22.70, for a total transaction of $363,200.00. Following the completion of the sale, the director now owns 149,264 shares in the company, valued at $3,388,292.80. This represents a 9.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Anthony L. Grande sold 26,000 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $22.18, for a total value of $576,680.00. Following the sale, the executive vice president now directly owns 127,380 shares of the company’s stock, valued at approximately $2,825,288.40. This represents a 16.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.89% of the stock is owned by insiders.

Institutional Trading of CoreCivic

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in CoreCivic during the fourth quarter worth $11,733,000. Nisa Investment Advisors LLC boosted its position in shares of CoreCivic by 13,071.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 253,147 shares of the real estate investment trust’s stock worth $5,503,000 after purchasing an additional 251,225 shares in the last quarter. Invenomic Capital Management LP grew its stake in shares of CoreCivic by 28.7% during the 3rd quarter. Invenomic Capital Management LP now owns 1,026,050 shares of the real estate investment trust’s stock worth $12,980,000 after purchasing an additional 228,803 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of CoreCivic in the 3rd quarter valued at about $2,810,000. Finally, Weiss Asset Management LP increased its holdings in shares of CoreCivic by 74.3% in the 3rd quarter. Weiss Asset Management LP now owns 498,690 shares of the real estate investment trust’s stock valued at $6,308,000 after purchasing an additional 212,569 shares in the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.

CoreCivic Company Profile

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.