Corecivic (NYSE:CXW) Upgraded to Sell at ValuEngine

Corecivic (NYSE:CXW) was upgraded by equities research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued on Monday, February 4th.

Several other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Corecivic from a “buy” rating to a “hold” rating in a report on Tuesday, January 15th. TheStreet downgraded Corecivic from a “b-” rating to a “c+” rating in a report on Tuesday, December 18th. Finally, Wells Fargo & Co set a $24.00 target price on Corecivic and gave the stock a “hold” rating in a report on Monday, December 3rd.

NYSE CXW traded down $0.39 during trading on Monday, hitting $20.79. The company’s stock had a trading volume of 878,393 shares, compared to its average volume of 523,497. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.14 and a current ratio of 1.02. The company has a market cap of $2.62 billion, a PE ratio of 9.00 and a beta of 1.28. Corecivic has a fifty-two week low of $17.16 and a fifty-two week high of $26.09.

Corecivic (NYSE:CXW) last issued its quarterly earnings results on Tuesday, February 19th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.22). The business had revenue of $482.19 million during the quarter, compared to analyst estimates of $459.32 million. Corecivic had a return on equity of 11.80% and a net margin of 8.67%. On average, sell-side analysts predict that Corecivic will post 2.44 earnings per share for the current fiscal year.

In related news, CEO Damon T. Hininger sold 21,251 shares of Corecivic stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $20.69, for a total transaction of $439,683.19. Following the completion of the sale, the chief executive officer now owns 273,493 shares of the company’s stock, valued at $5,658,570.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in CXW. Capital Growth Management LP purchased a new position in Corecivic during the third quarter valued at approximately $29,561,000. FMR LLC raised its position in Corecivic by 15.4% during the third quarter. FMR LLC now owns 7,140,571 shares of the real estate investment trust’s stock valued at $173,732,000 after acquiring an additional 950,910 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in Corecivic by 1,707.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 836,102 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 789,856 shares in the last quarter. Northern Trust Corp raised its position in Corecivic by 57.8% during the second quarter. Northern Trust Corp now owns 1,952,332 shares of the real estate investment trust’s stock valued at $46,641,000 after acquiring an additional 714,970 shares in the last quarter. Finally, Millennium Management LLC raised its position in Corecivic by 117.2% during the fourth quarter. Millennium Management LLC now owns 1,055,851 shares of the real estate investment trust’s stock valued at $18,826,000 after acquiring an additional 569,811 shares in the last quarter. 81.30% of the stock is owned by hedge funds and other 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.

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