CoreCivic (NYSE:CXW) Given New $32.00 Price Target at Northland Securities

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

Separately, Wedbush restated 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

Shares of NYSE CXW traded up $0.44 during mid-day trading on Friday, hitting $22.52. The company had a trading volume of 4,147,843 shares, compared to its average volume of 976,815. CoreCivic has a 12 month low of $10.74 and a 12 month high of $24.99. The firm has a market cap of $2.48 billion, a P/E ratio of 33.60 and a beta of 0.86. The business’s 50-day simple moving average is $13.68 and its 200-day simple moving average is $13.84. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.44 and a quick ratio of 1.44.

CoreCivic (NYSE:CXW) last announced 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). CoreCivic had a return on equity of 6.57% and a net margin of 3.85%. The firm had revenue of $490.11 million for the quarter, compared to analyst estimates of $481.87 million. During the same period in the previous year, the business posted $0.33 EPS. CoreCivic’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, analysts predict that CoreCivic will post 1.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Patrick D. Swindle sold 15,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $12.40, for a total value of $186,000.00. Following the completion of the sale, the chief operating officer now directly owns 203,504 shares in the company, valued at approximately $2,523,449.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO David Garfinkle sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $13.60, for a total transaction of $340,000.00. Following the completion of the sale, the chief financial officer now directly owns 326,528 shares of the company’s stock, valued at $4,440,780.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Patrick D. Swindle sold 15,000 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $12.40, for a total value of $186,000.00. Following the completion of the transaction, the chief operating officer now directly owns 203,504 shares in the company, valued at approximately $2,523,449.60. This trade 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 three months. Insiders own 1.89% of the company’s stock.

Institutional Trading of CoreCivic

Hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC increased its stake in CoreCivic by 2.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 29,509 shares of the real estate investment trust’s stock worth $383,000 after purchasing an additional 804 shares in the last quarter. SummerHaven Investment Management LLC increased its position in shares of CoreCivic by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 79,592 shares of the real estate investment trust’s stock worth $1,033,000 after acquiring an additional 998 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of CoreCivic by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 99,426 shares of the real estate investment trust’s stock worth $1,552,000 after acquiring an additional 1,330 shares during the period. The Manufacturers Life Insurance Company lifted its position in CoreCivic by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 57,424 shares of the real estate investment trust’s stock valued at $745,000 after acquiring an additional 1,401 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in CoreCivic by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 22,927 shares of the real estate investment trust’s stock worth $358,000 after purchasing an additional 1,578 shares during the period. Institutional investors and hedge funds own 85.13% of the company’s stock.

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.