CoreCivic (NYSE:CXW) Sets New 52-Week High – Here’s What Happened

CoreCivic, Inc. (NYSE:CXW) hit a new 52-week high on Thursday . The company traded as high as $26.97 and last traded at $26.5440, with a volume of 2275863 shares trading hands. The stock had previously closed at $25.18.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Benchmark assumed coverage on CoreCivic in a research note on Tuesday, March 24th. They issued a “buy” rating and a $28.00 price objective for the company. Wall Street Zen cut CoreCivic from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. JonesTrading reaffirmed a “buy” rating and issued a $30.00 price objective on shares of CoreCivic in a research note on Friday, February 13th. Finally, Weiss Ratings raised CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, CoreCivic currently has an average rating of “Buy” and an average target price of $29.00.

CoreCivic Price Performance

The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 21.58 and a beta of 0.67. The stock has a 50 day moving average price of $20.98 and a two-hundred day moving average price of $19.57. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.44 and a quick ratio of 2.44.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. NBC Securities Inc. boosted its holdings in CoreCivic by 533.9% in the fourth quarter. NBC Securities Inc. now owns 1,458 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 1,228 shares during the period. Leonteq Securities AG purchased a new position in CoreCivic in the fourth quarter valued at $57,000. Smartleaf Asset Management LLC boosted its holdings in CoreCivic by 33.0% in the second quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 702 shares during the period. Fifth Third Bancorp boosted its holdings in CoreCivic by 320.7% in the fourth quarter. Fifth Third Bancorp now owns 3,340 shares of the real estate investment trust’s stock valued at $64,000 after purchasing an additional 2,546 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in CoreCivic in the fourth quarter valued at $71,000. 85.13% of the stock is currently owned by hedge funds and other institutional investors.

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.