CoreCivic (NYSE:CXW) Shares Break Above 200 Day Moving Average – What’s Next?

CoreCivic, Inc. (NYSE:CXW)’s share price passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $27.28 and traded as high as $35.02. CoreCivic shares last traded at $33.6810, with a volume of 2,918,209 shares.

Analyst Upgrades and Downgrades

CXW has been the topic of several analyst reports. UBS Group set a $35.00 price target on shares of CoreCivic in a report on Tuesday, July 7th. Benchmark lifted their target price on shares of CoreCivic from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Wall Street Zen upgraded CoreCivic from a “hold” rating to a “buy” rating in a research note on Monday, August 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of CoreCivic in a report on Monday, September 28th. Finally, JonesTrading restated a “buy” rating and issued a $42.00 price objective on shares of CoreCivic in a research report on Friday, September 18th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $39.40.

CoreCivic Trading Up 0.5%

The stock has a market cap of $3.16 billion, a PE ratio of 25.54 and a beta of 0.57. The stock has a 50-day moving average price of $33.02 and a two-hundred day moving average price of $27.36. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.32 and a quick ratio of 1.32.

CoreCivic (NYSE:CXW) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. The company had revenue of $684.92 million during the quarter, compared to analyst estimates of $618.63 million. CoreCivic had a return on equity of 9.22% and a net margin of 5.15%.The firm’s revenue was up 27.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.59 earnings per share. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. Sell-side analysts forecast that CoreCivic, Inc. will post 2.69 earnings per share for the current fiscal year.

CoreCivic declared that its Board of Directors has approved a share repurchase program on Monday, August 10th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the real estate investment trust to repurchase up to 15.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at CoreCivic

In other news, Director Mark A. Emkes sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $34.25, for a total transaction of $1,027,500.00. Following the transaction, the director owned 141,274 shares of the company’s stock, valued at approximately $4,838,634.50. The trade was a 17.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Anthony L. Grande sold 12,564 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $33.85, for a total value of $425,291.40. Following the sale, the executive vice president owned 144,782 shares in the company, valued at $4,900,870.70. The trade was a 7.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 459,287 shares of company stock valued at $15,431,193 over the last ninety days. 1.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CoreCivic

Several hedge funds and other institutional investors have recently made changes to their positions in CXW. Persistent Asset Partners Ltd purchased a new position in shares of CoreCivic during the 2nd quarter worth about $52,000. Public Employees Retirement System of Ohio bought a new stake in CoreCivic in the second quarter worth about $120,000. State of Wyoming bought a new stake in CoreCivic in the second quarter worth about $205,000. Sequoia Financial Advisors LLC purchased a new position in shares of CoreCivic during the second quarter valued at approximately $207,000. Finally, Ieq Capital LLC bought a new position in shares of CoreCivic during the second quarter valued at approximately $211,000. Hedge funds and other institutional investors own 85.13% of the company’s stock.

About CoreCivic

CoreCivic, Inc is a diversified government-services company that develops, owns and manages correctional and detention facilities in the United States. Formerly known as Corrections Corporation of America, the company adopted the CoreCivic name in 2016. It works with federal, state and local government agencies to provide secure facilities and related services.

CoreCivic’s operations include the management of correctional and detention facilities, the operation of residential reentry centers and other community corrections programs, and the provision of transportation and monitoring services.