Noble Financial Downgrades CoreCivic (NYSE:CXW) to Hold

Noble Financial downgraded shares of CoreCivic (NYSE:CXW) from a strong-buy rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. Northland Securities upped their price objective on CoreCivic from $17.00 to $19.00 and gave the company an outperform rating in a research report on Tuesday, March 26th. StockNews.com cut CoreCivic from a buy rating to a hold rating in a report on Monday, April 29th. Finally, Wedbush cut CoreCivic from an outperform rating to a neutral rating and lowered their target price for the stock from $19.00 to $14.00 in a report on Tuesday, June 11th.

CoreCivic Stock Performance

Shares of CXW stock opened at $11.61 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.68. The company’s fifty day moving average price is $15.04 and its 200-day moving average price is $14.72. CoreCivic has a 12 month low of $9.02 and a 12 month high of $16.54. The stock has a market cap of $1.29 billion, a PE ratio of 20.73 and a beta of 0.87.

CoreCivic (NYSE:CXW) last posted its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.12). CoreCivic had a net margin of 3.34% and a return on equity of 5.74%. The company had revenue of $500.69 million for the quarter, compared to the consensus estimate of $477.93 million. During the same quarter in the prior year, the company posted $0.34 EPS. CoreCivic’s revenue was up 9.3% on a year-over-year basis. On average, equities analysts expect that CoreCivic will post 1.59 EPS for the current fiscal year.

Insider Transactions at CoreCivic

In other news, EVP Anthony L. Grande sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $15.51, for a total transaction of $232,650.00. Following the completion of the transaction, the executive vice president now owns 168,380 shares in the company, valued at approximately $2,611,573.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other CoreCivic news, EVP Anthony L. Grande sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $15.51, for a total transaction of $232,650.00. Following the completion of the sale, the executive vice president now directly owns 168,380 shares in the company, valued at $2,611,573.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David Garfinkle sold 19,900 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $15.18, for a total transaction of $302,082.00. Following the completion of the sale, the chief financial officer now owns 361,628 shares of the company’s stock, valued at approximately $5,489,513.04. The disclosure for this sale can be found here. Insiders own 1.89% of the company’s stock.

Institutional Investors Weigh In On CoreCivic

A number of institutional investors and hedge funds have recently modified their holdings of CXW. Goldman Sachs Group Inc. lifted its holdings in shares of CoreCivic by 1,050.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,138,544 shares of the real estate investment trust’s stock worth $45,603,000 after purchasing an additional 2,865,763 shares during the period. Cooper Creek Partners Management LLC lifted its stake in CoreCivic by 24.2% during the 3rd quarter. Cooper Creek Partners Management LLC now owns 3,297,002 shares of the real estate investment trust’s stock valued at $37,091,000 after acquiring an additional 641,576 shares in the last quarter. Teacher Retirement System of Texas increased its stake in CoreCivic by 1,284.1% in the 4th quarter. Teacher Retirement System of Texas now owns 545,967 shares of the real estate investment trust’s stock valued at $7,933,000 after buying an additional 506,522 shares during the last quarter. Courage Capital Management LLC purchased a new position in CoreCivic in the first quarter worth $5,323,000. Finally, AWH Capital L.P. boosted its stake in CoreCivic by 88.7% in the third quarter. AWH Capital L.P. now owns 425,500 shares of the real estate investment trust’s stock valued at $4,787,000 after acquiring an additional 200,000 shares during the last quarter. 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.