CoreCivic (NYSE:CXW) Stock Gets Downgrade from Wall Street Zen

by · The Cerbat Gem

CoreCivic (NYSE:CXW – Get Free Report) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

Several other analysts also recently issued reports on the company. Noble Financial reissued an “outperform” rating on shares of CoreCivic in a research note on Monday, August 10th. Northland Securities set a $40.00 price objective on CoreCivic in a research report on Friday, June 26th. TD Cowen reaffirmed a “hold” rating on shares of CoreCivic in a research report on Friday. Weiss Ratings upgraded CoreCivic from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, October 13th. Finally, JonesTrading reissued a “buy” rating and issued a $42.00 target price on shares of CoreCivic in a research report on Friday, September 18th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $39.40.

View Our Latest Stock Analysis on CoreCivic

CoreCivic Stock Performance

Shares of CXW opened at $29.97 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.32 and a current ratio of 1.32. CoreCivic has a twelve month low of $15.73 and a twelve month high of $36.55. The firm’s 50 day moving average price is $32.97 and its two-hundred day moving average price is $28.43. The firm has a market cap of $2.96 billion, a P/E ratio of 23.97 and a beta of 0.57.

CoreCivic (NYSE:CXW – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.04. CoreCivic had a net margin of 5.15% and a return on equity of 9.22%. The company had revenue of $684.92 million during the quarter, compared to analysts’ expectations of $618.63 million. During the same quarter in the prior year, the company earned $0.59 earnings per share. The business’s quarterly revenue was up 27.3% compared to the same quarter last year. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. On average, analysts forecast that CoreCivic will post 2.69 EPS for the current fiscal year.

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

Insider Activity

In other news, 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 value 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 $4,838,634.50. This trade represents a 17.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John R. Prann, Jr. sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $33.54, for a total value of $1,341,600.00. Following the completion of the sale, the director directly owned 30,396 shares of the company’s stock, valued at approximately $1,019,481.84. The trade was a 56.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 459,287 shares of company stock valued at $15,431,193. 1.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. T3 Companies LLC acquired a new position in shares of CoreCivic during the 3rd quarter worth approximately $416,000. USA Financial Formulas bought a new stake in CoreCivic in the 3rd quarter valued at $48,000. Fortitude Advisory Group L.L.C. acquired a new stake in CoreCivic during the 3rd quarter valued at $369,000. Assenagon Asset Management S.A. acquired a new stake in CoreCivic during the 3rd quarter valued at $93,789,000. Finally, Farther Finance Advisors LLC lifted its holdings in CoreCivic by 48.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,340 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 437 shares during the last quarter. 85.13% of the stock is currently owned by institutional investors.

CoreCivic Company Profile

(Get Free Report)

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.

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