Corecivic (CXW) Lifted to Sell at ValuEngine

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Corecivic (NYSE:CXW) was upgraded by stock analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a report released on Monday.

Separately, Zacks Investment Research raised shares of Corecivic from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Monday, August 20th.

Shares of NYSE:CXW opened at $22.54 on Monday. The company has a market cap of $2.59 billion, a P/E ratio of 9.72, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. Corecivic has a 1-year low of $18.61 and a 1-year high of $26.09. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.23.

Corecivic (NYSE:CXW) last issued its earnings results on Monday, November 5th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.04). The business had revenue of $462.73 million for the quarter, compared to the consensus estimate of $454.79 million. Corecivic had a return on equity of 11.64% and a net margin of 8.88%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 earnings per share. As a group, sell-side analysts anticipate that Corecivic will post 2.31 EPS for the current year.

In related news, Director Thurgood Marshall, Jr. sold 2,100 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $25.95, for a total value of $54,495.00. Following the completion of the transaction, the director now owns 31,221 shares of the company’s stock, valued at approximately $810,184.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Damon T. Hininger sold 35,324 shares of the firm’s stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $25.75, for a total transaction of $909,593.00. Following the completion of the transaction, the chief executive officer now directly owns 260,082 shares of the company’s stock, valued at approximately $6,697,111.50. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Several large investors have recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of Corecivic by 2.6% during the 3rd quarter. BlackRock Inc. now owns 14,146,134 shares of the real estate investment trust’s stock valued at $344,175,000 after buying an additional 357,107 shares during the period. FMR LLC boosted its stake in shares of Corecivic by 15.4% during the 3rd quarter. FMR LLC now owns 7,140,571 shares of the real estate investment trust’s stock valued at $173,732,000 after buying an additional 950,910 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Corecivic by 3.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,628,022 shares of the real estate investment trust’s stock valued at $88,269,000 after buying an additional 113,046 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Corecivic by 30.7% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,459,114 shares of the real estate investment trust’s stock valued at $58,748,000 after buying an additional 577,225 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Corecivic by 9.8% during the 3rd quarter. Renaissance Technologies LLC now owns 2,379,400 shares of the real estate investment trust’s stock valued at $57,891,000 after buying an additional 212,697 shares during the period. 84.06% of the stock is owned by institutional investors.

About Corecivic

The Company is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through corrections and detention management, a growing network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.

Further Reading: Marijuana Stocks Investing Considerations

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