Northland Securities Increases CoreCivic (NYSE:CXW) Price Target to $19.00

CoreCivic (NYSE:CXW) had its price objective boosted by Northland Securities from $17.00 to $19.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Northland Securities’ price target indicates a potential upside of 21.33% from the stock’s current price.

Several other equities analysts also recently commented on CXW. StockNews.com downgraded shares of CoreCivic from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Wedbush reaffirmed an “outperform” rating and set a $18.00 target price on shares of CoreCivic in a report on Thursday, March 21st.

CoreCivic Stock Up 0.1 %

Shares of CXW stock opened at $15.66 on Tuesday. CoreCivic has a 52-week low of $7.84 and a 52-week high of $16.24. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 26.54 and a beta of 0.81. The firm’s 50-day moving average is $14.71 and its 200-day moving average is $13.54.

CoreCivic (NYSE:CXW) last released its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.17). CoreCivic had a net margin of 3.56% and a return on equity of 4.70%. The business had revenue of $491.25 million during the quarter, compared to the consensus estimate of $489.62 million. Sell-side analysts predict that CoreCivic will post 1.3 EPS for the current year.

Insider Buying and Selling

In other news, CEO Damon T. Hininger sold 50,525 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $14.62, for a total value of $738,675.50. Following the completion of the sale, the chief executive officer now owns 820,262 shares of the company’s stock, valued at $11,992,230.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Anthony L. Grande sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $14.50, for a total value of $217,500.00. Following the completion of the sale, the executive vice president now directly owns 186,692 shares in the company, valued at $2,707,034. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Damon T. Hininger sold 50,525 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $14.62, for a total value of $738,675.50. Following the transaction, the chief executive officer now owns 820,262 shares in the company, valued at approximately $11,992,230.44. The disclosure for this sale can be found here. 1.89% of the stock is currently owned by insiders.

Institutional Trading of CoreCivic

A number of institutional investors have recently modified their holdings of CXW. Boston Partners lifted its holdings in shares of CoreCivic by 13.7% during the 3rd quarter. Boston Partners now owns 2,910,746 shares of the real estate investment trust’s stock worth $33,343,000 after acquiring an additional 351,508 shares during the period. Trexquant Investment LP acquired a new stake in shares of CoreCivic in the 3rd quarter valued at $792,000. Jennison Associates LLC acquired a new position in shares of CoreCivic during the 3rd quarter worth $1,052,000. FMR LLC lifted its position in shares of CoreCivic by 0.6% during the 3rd quarter. FMR LLC now owns 8,597,388 shares of the real estate investment trust’s stock worth $96,721,000 after buying an additional 53,395 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in CoreCivic by 45.1% in the third quarter. Wellington Management Group LLP now owns 374,701 shares of the real estate investment trust’s stock valued at $4,215,000 after acquiring an additional 116,542 shares during the last quarter. 85.13% of the stock is currently owned by institutional investors.

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.