Corecivic Inc (NYSE:CXW) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Other analysts also recently issued reports about the stock. BidaskClub downgraded shares of Corecivic from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Zacks Investment Research downgraded shares of Corecivic from a “buy” rating to a “hold” rating in a report on Tuesday. Canaccord Genuity reissued a “buy” rating and issued a $34.00 price target on shares of Corecivic in a report on Monday, March 27th. Finally, Deutsche Bank AG increased their price target on shares of Corecivic from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $32.50.

Shares of Corecivic (CXW) traded up 0.51% during trading on Friday, reaching $27.50. 567,811 shares of the company’s stock were exchanged. Corecivic has a 52-week low of $12.99 and a 52-week high of $35.33. The company has a 50 day moving average of $29.80 and a 200 day moving average of $30.27. The firm has a market capitalization of $3.25 billion, a P/E ratio of 14.47 and a beta of 0.93.

Corecivic (NYSE:CXW) last posted its quarterly earnings data on Wednesday, May 3rd. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The business had revenue of $445.70 million during the quarter, compared to the consensus estimate of $446.12 million. Corecivic had a net margin of 11.23% and a return on equity of 13.74%. Corecivic’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 EPS. Equities analysts anticipate that Corecivic will post $1.53 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Monday, July 3rd will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 6.11%. The ex-dividend date of this dividend is Thursday, June 29th. Corecivic’s dividend payout ratio (DPR) is presently 88.42%.

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In other Corecivic news, EVP Lucibeth Mayberry sold 5,000 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $30.54, for a total value of $152,700.00. Following the completion of the sale, the executive vice president now directly owns 45,615 shares of the company’s stock, valued at approximately $1,393,082.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Anthony L. Grande sold 23,000 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $33.86, for a total transaction of $778,780.00. Following the completion of the sale, the executive vice president now directly owns 39,510 shares of the company’s stock, valued at $1,337,808.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,236 shares of company stock valued at $1,453,317. Insiders own 1.30% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. TLP Group LLC acquired a new position in Corecivic during the first quarter worth approximately $113,000. Oppenheimer Asset Management Inc. acquired a new position in Corecivic during the first quarter worth approximately $116,000. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new position in Corecivic during the first quarter worth approximately $123,000. Harvest Fund Management Co. Ltd acquired a new position in Corecivic during the first quarter worth approximately $126,000. Finally, Harbour Capital Advisors LLC acquired a new position in Corecivic during the first quarter worth approximately $162,000. 87.49% of the stock is owned by institutional investors.

About Corecivic

CoreCivic, Inc, formerly Corrections Corporation of America, is a diversified government solutions company. The Company provides partnership correctional, detention and residential reentry facilities and operates prison in the United States. The Company’s business offerings include CoreCivic Safety, CoreCivic Properties, and CoreCivic Community.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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