CoreCivic (NYSE:CXW) Sets New 12-Month High – Should You Buy?

Shares of CoreCivic, Inc. (NYSE:CXW) hit a new 52-week high on Monday . The stock traded as high as $30.95 and last traded at $30.6960, with a volume of 2646352 shares traded. The stock had previously closed at $30.77.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wall Street Zen cut CoreCivic from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Northland Securities set a $40.00 price target on CoreCivic in a research note on Friday. Weiss Ratings downgraded shares of CoreCivic from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 16th. Finally, Benchmark increased their price objective on shares of CoreCivic from $28.00 to $36.00 and gave the company a “buy” rating in a research report on Friday. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, CoreCivic presently has a consensus rating of “Moderate Buy” and an average target price of $35.33.

CoreCivic Stock Up 0.3%

The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $3.00 billion, a PE ratio of 24.70 and a beta of 0.67. The business’s 50-day simple moving average is $23.48 and its 200-day simple moving average is $20.64.

CoreCivic (NYSE:CXW) last announced its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.40 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.16). The business had revenue of $614.73 million for the quarter, compared to analyst estimates of $604.48 million. CoreCivic had a net margin of 5.53% and a return on equity of 9.29%. The business’s revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 earnings per share. CoreCivic has set its FY 2026 guidance at 2.580-2.680 EPS. As a group, equities research analysts anticipate that CoreCivic, Inc. will post 2.66 EPS for the current fiscal year.

Institutional Trading of CoreCivic

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in CoreCivic by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 12,713,519 shares of the real estate investment trust’s stock valued at $242,955,000 after buying an additional 138,846 shares during the period. Lee Danner & Bass Inc. increased its holdings in CoreCivic by 20.1% in the fourth quarter. Lee Danner & Bass Inc. now owns 582,558 shares of the real estate investment trust’s stock valued at $11,133,000 after buying an additional 97,413 shares in the last quarter. Aberdeen Group plc raised its position in shares of CoreCivic by 60.1% in the fourth quarter. Aberdeen Group plc now owns 968,300 shares of the real estate investment trust’s stock worth $18,504,000 after acquiring an additional 363,526 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of CoreCivic by 24.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 372,018 shares of the real estate investment trust’s stock worth $7,571,000 after acquiring an additional 73,145 shares in the last quarter. Finally, Kestrel Investment Management Corp purchased a new stake in shares of CoreCivic during the 4th quarter worth about $5,601,000. Hedge funds and other institutional investors own 85.13% of the company’s stock.

About CoreCivic

CoreCivic, Inc (NYSE: CXW) is a real estate investment trust specializing in the ownership, management and operation of private correctional and detention facilities in the United States. The company enters into contracts with federal, state and local government agencies to house inmates and detainees in facilities that it owns or operates on a concession basis. In addition to traditional prison operations, CoreCivic provides specialized services such as community-based reentry programs, electronic monitoring and rehabilitation initiatives aimed at reducing recidivism.

CoreCivic’s portfolio encompasses a mix of adult correctional facilities, immigration detention centers, residential reentry centers and other community-based programs.