Northland Securities Forecasts Strong Price Appreciation for CoreCivic (NYSE:CXW) Stock

CoreCivic (NYSE:CXW) had its price target raised by Northland Securities from $17.00 to $32.00 in a research note published on Friday,Benzinga reports. Northland Securities currently has an outperform rating on the real estate investment trust’s stock.

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

CoreCivic Stock Up 2.0 %

CXW traded up $0.44 on Friday, hitting $22.52. 4,147,843 shares of the company were exchanged, compared to its average volume of 976,815. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.44 and a current ratio of 1.44. The stock’s fifty day moving average is $13.68 and its 200-day moving average is $13.84. The company has a market cap of $2.48 billion, a PE ratio of 33.60 and a beta of 0.86. CoreCivic has a 12 month low of $10.74 and a 12 month high of $24.99.

CoreCivic (NYSE:CXW) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.20). The firm had revenue of $490.11 million during the quarter, compared to the consensus estimate of $481.87 million. CoreCivic had a net margin of 3.85% and a return on equity of 6.57%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 earnings per share. Equities research analysts predict that CoreCivic will post 1.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider David K. Churchill sold 35,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $12.62, for a total transaction of $441,700.00. Following the completion of the sale, the insider now directly owns 229,056 shares in the company, valued at approximately $2,890,686.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider David K. Churchill sold 35,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $12.62, for a total value of $441,700.00. Following the transaction, the insider now owns 229,056 shares in the company, valued at approximately $2,890,686.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David K. Churchill sold 15,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $13.61, for a total transaction of $204,150.00. Following the sale, the insider now directly owns 214,056 shares of the company’s stock, valued at $2,913,302.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 169,996 shares of company stock worth $2,177,640 in the last 90 days. Company insiders own 1.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in CoreCivic during the second quarter worth $29,000. nVerses Capital LLC bought a new position in CoreCivic in the second quarter valued at about $40,000. GAMMA Investing LLC raised its stake in CoreCivic by 77.7% during the third quarter. GAMMA Investing LLC now owns 3,733 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 1,632 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of CoreCivic in the first quarter worth about $84,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of CoreCivic in the 1st quarter valued at approximately $87,000. 85.13% of the stock is owned by institutional investors.

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.