CoreCivic’s (CXW) “Buy” Rating Reiterated at JonesTrading

JonesTrading reaffirmed their buy rating on shares of CoreCivic (NYSE:CXW) in a report issued on Friday,Benzinga reports. JonesTrading currently has a $42.00 price target on the real estate investment trust’s stock.

Several other equities analysts also recently weighed in on CXW. Wall Street Zen upgraded CoreCivic from a “hold” rating to a “buy” rating in a report on Monday, August 10th. Benchmark raised their price objective on shares of CoreCivic from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Noble Financial reaffirmed an “outperform” rating on shares of CoreCivic in a report on Monday, August 10th. UBS Group set a $35.00 price target on shares of CoreCivic in a report on Tuesday, July 7th. Finally, Weiss Ratings upgraded shares of CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $39.40.

CoreCivic Trading Up 0.1%

NYSE:CXW opened at $35.26 on Friday. The firm has a market capitalization of $3.49 billion, a P/E ratio of 28.21 and a beta of 0.60. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.32 and a quick ratio of 1.32. CoreCivic has a one year low of $15.73 and a one year high of $36.55. The company’s 50-day simple moving average is $32.72 and its 200 day simple moving average is $26.17.

CoreCivic (NYSE:CXW) last announced its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 earnings per share for the quarter, beating 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 business had revenue of $684.92 million during the quarter, compared to the consensus estimate of $618.63 million. During the same quarter last year, the firm earned $0.59 earnings per share. The business’s revenue for the quarter 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, analysts forecast that CoreCivic will post 2.69 EPS for the current fiscal year.

CoreCivic declared that its Board of Directors has authorized a share buyback program on Monday, August 10th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the real estate investment trust to reacquire up to 15.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CFO David Garfinkle sold 50,000 shares of the stock in a transaction that occurred 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 owned 293,353 shares in the company, valued at $9,962,267.88. This represents a 14.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Emkes sold 30,000 shares of the firm’s stock in a transaction that occurred 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 owned 141,274 shares in the company, valued at $4,838,634.50. This represents a 17.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 459,287 shares of company stock worth $15,431,193. 1.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CoreCivic

Several hedge funds and other institutional investors have recently modified their holdings of CXW. Sequoia Financial Advisors LLC bought a new position in CoreCivic in the second quarter valued at about $207,000. Tidal Investments LLC grew its stake in shares of CoreCivic by 14.4% during the 2nd quarter. Tidal Investments LLC now owns 22,445 shares of the real estate investment trust’s stock valued at $682,000 after purchasing an additional 2,825 shares during the period. WINTON GROUP Ltd bought a new stake in shares of CoreCivic during the 2nd quarter valued at about $504,000. Corient Private Wealth LP purchased a new stake in shares of CoreCivic during the 2nd quarter valued at about $458,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of CoreCivic during the 2nd quarter valued at about $1,970,000. 85.13% of the stock is owned by institutional investors.

About CoreCivic

CoreCivic, Inc (NYSE: CXW) is a diversified government-solutions company that provides detention, corrections and residential reentry services. The company partners with federal, state and local government agencies to design, develop, own, lease and manage correctional and detention facilities in the United States.

Through its CoreCivic Safety operations, the company manages correctional and detention facilities and provides related services, including security, inmate care, transportation and rehabilitation programs.