Corecivic (CXW) Given a $24.00 Price Target at Wells Fargo & Co

Wells Fargo & Co set a $24.00 price target on Corecivic (NYSE:CXW) in a research report released on Monday. The firm currently has a hold rating on the real estate investment trust’s stock.

A number of other research analysts also recently issued reports on the company. Zacks Investment Research upgraded Corecivic from a sell rating to a hold rating in a research note on Tuesday, November 27th. ValuEngine upgraded Corecivic from a strong sell rating to a sell rating in a research note on Monday, November 12th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. Corecivic currently has an average rating of Hold and an average target price of $28.33.

Shares of NYSE:CXW opened at $22.29 on Monday. The company has a market cap of $2.61 billion, a P/E ratio of 9.80, a P/E/G ratio of 1.59 and a beta of 1.06. 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 has a 12-month low of $18.61 and a 12-month high of $26.09.

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

In related news, CEO Damon T. Hininger sold 35,324 shares of the business’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 in the company, valued at approximately $6,697,111.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO David Garfinkle sold 5,010 shares of the business’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $21.70, for a total value of $108,717.00. Following the transaction, the chief financial officer now owns 105,082 shares of the company’s stock, valued at $2,280,279.40. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Rehmann Capital Advisory Group boosted its stake in Corecivic by 2,332.6% in the 3rd quarter. Rehmann Capital Advisory Group now owns 5,887 shares of the real estate investment trust’s stock worth $242,000 after purchasing an additional 5,645 shares during the period. Tower Research Capital LLC TRC boosted its stake in Corecivic by 411.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,764 shares of the real estate investment trust’s stock worth $164,000 after purchasing an additional 5,441 shares during the period. Virtu Financial LLC bought a new position in Corecivic in the 2nd quarter worth approximately $226,000. Raymond James Financial Services Advisors Inc. bought a new position in Corecivic in the 2nd quarter worth approximately $226,000. Finally, Argent Trust Co bought a new position in Corecivic in the 2nd quarter worth approximately $239,000. Institutional investors and hedge funds own 81.67% of the company’s stock.

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.

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