Northland Securities Raises CoreCivic (NYSE:CXW) Price Target to $32.00

CoreCivic (NYSE:CXW) had its price objective boosted by stock analysts at Northland Securities from $17.00 to $32.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Northland Securities’ price target would indicate a potential upside of 42.10% from the stock’s previous close.

Separately, Wedbush reissued a “neutral” rating and set a $14.00 price target on shares of CoreCivic in a research note on Friday, September 13th.

CoreCivic Stock Performance

NYSE:CXW opened at $22.52 on Friday. The firm has a 50 day moving average of $13.68 and a 200-day moving average of $13.83. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.70. CoreCivic has a 1 year low of $10.74 and a 1 year high of $24.99. The stock has a market capitalization of $2.48 billion, a P/E ratio of 33.61 and a beta of 0.86.

CoreCivic (NYSE:CXW) last posted its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.20). The company had revenue of $490.11 million during the quarter, compared to the consensus estimate of $481.87 million. CoreCivic had a return on equity of 6.57% and a net margin of 3.85%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 EPS. As a group, sell-side analysts anticipate that CoreCivic will post 1.51 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Cole G. Carter sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $12.58, for a total value of $100,640.00. Following the completion of the transaction, the executive vice president now directly owns 207,847 shares in the company, valued at approximately $2,614,715.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Damon T. Hininger sold 31,996 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $12.50, for a total transaction of $399,950.00. Following the completion of the transaction, the chief executive officer now directly owns 788,266 shares in the company, valued at approximately $9,853,325. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Cole G. Carter sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $12.58, for a total value of $100,640.00. Following the completion of the sale, the executive vice president now owns 207,847 shares in the company, valued at $2,614,715.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 169,996 shares of company stock worth $2,177,640 over the last ninety days. 1.89% of the stock is currently owned by corporate insiders.

Institutional Trading of CoreCivic

A number of institutional investors have recently made changes to their positions in the business. River Road Asset Management LLC increased its stake in CoreCivic by 0.5% in the 3rd quarter. River Road Asset Management LLC now owns 8,611,640 shares of the real estate investment trust’s stock valued at $108,937,000 after buying an additional 40,365 shares during the last quarter. abrdn plc boosted its position in CoreCivic by 8.7% during the third quarter. abrdn plc now owns 1,031,400 shares of the real estate investment trust’s stock valued at $13,047,000 after purchasing an additional 82,500 shares during the last quarter. Foundry Partners LLC grew its stake in CoreCivic by 11.4% in the first quarter. Foundry Partners LLC now owns 530,237 shares of the real estate investment trust’s stock valued at $8,277,000 after purchasing an additional 54,377 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in shares of CoreCivic during the 2nd quarter worth approximately $6,818,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of CoreCivic by 85.8% in the second quarter. Nisa Investment Advisors LLC now owns 400,896 shares of the real estate investment trust’s stock valued at $5,204,000 after buying an additional 185,075 shares in 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.