CoreCivic Inc. [CXW] Stock trading around $6.85 per share: What’s Next?

CoreCivic Inc. [NYSE: CXW] loss -10.57% or -0.81 points to close at $6.85 with a heavy trading volume of 4103808 shares. The company report on October 21, 2020 that CoreCivic Announces Support for Pell Grant Restoration, Voting Rights Restoration and Licensure Reform Policies.

Expands Multi-Year Initiative Already Resulting in Nearly 2,000 Letters of Support for 66 Federal and State Laws Aimed at Reducing Recidivism.

CoreCivic (NYSE: CXW) today announced that it would publicly advocate at the federal and state levels for a slate of new policies that will help people succeed in their communities after being released from prison. Specifically, the company pledged its support for the restoration of Pell Grants for incarcerated individuals, the restoration of voting rights for the formerly incarcerated, and licensure reform to remove punitive measures that make it harder for the formerly incarcerated to find and keep jobs.

It opened the trading session at $7.64, the shares rose to $7.67 and dropped to $6.84, the range by which the price of stock traded the whole day. The daily chart for CXW points out that the company has recorded -37.33% loss over the past six months. However, it is still 10.1% higher than its most recent low trading price.

If we look at the average trading volume of 1.85M shares, CXW reached to a volume of 4103808 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about CoreCivic Inc. [CXW]:

Noble Capital Markets have made an estimate for CoreCivic Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 16, 2020. While these analysts kept the previous recommendation, Canaccord Genuity raised their target price from $30 to $34. The new note on the price target was released on February 10, 2017, representing the official price target for CoreCivic Inc. stock. Previously, the target price had yet another raise from $22 to $28, while Canaccord Genuity kept a Buy rating on CXW stock. On November 11, 2016, analysts increased their price target for CXW shares from 17 to 22.

The Average True Range (ATR) for CoreCivic Inc. is set at 0.32, with the Price to Sales ratio for CXW stock in the period of the last 12 months amounting to 0.43. The Price to Book ratio for the last quarter was 0.59, with the Price to Cash per share for the same quarter was set at 2.97. Price to Free Cash Flow for CXW in the course of the last twelve months was 8.46 with Quick ratio for the last quarter at 2.30.

Trading performance analysis for CXW stock

CoreCivic Inc. [CXW] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.40. With this latest performance, CXW shares dropped by -16.57% in over the last four-week period, additionally sinking by -37.33% over the last 6 months – not to mention a drop of -57.05% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CXW stock in for the last two-week period is set at 20.64, with the RSI for the last a single of trading hit 17.18, and the three-weeks RSI is set at 27.20 for CoreCivic Inc. [CXW]. The present Moving Average for the last 50 days of trading for this stock 8.72, while it was recorded at 7.57 for the last single week of trading, and 11.40 for the last 200 days.

CoreCivic Inc. [CXW]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and CoreCivic Inc. [CXW] shares currently have an operating margin of +10.08 and a Gross Margin at +20.87. CoreCivic Inc.’s Net Margin is presently recorded at +9.54.

Return on Total Capital for CXW is now 5.98, given the latest momentum, and Return on Invested Capital for the company is 5.74. Return on Equity for this stock inclined to 13.53, with Return on Assets sitting at 5.06. When it comes to the capital structure of this company, CoreCivic Inc. [CXW] has a Total Debt to Total Equity ratio set at 149.18. Additionally, CXW Total Debt to Total Capital is recorded at 59.87, with Total Debt to Total Assets ending up at 53.95. Long-Term Debt to Equity for the company is recorded at 144.32, with the Long-Term Debt to Total Capital now at 57.92.

Reflecting on the efficiency of the workforce at the company, CoreCivic Inc. [CXW] managed to generate an average of $13,420 per employee. Receivables Turnover for the company is 5.50 with a Total Asset Turnover recorded at a value of 0.53.CoreCivic Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 2.30.

CoreCivic Inc. [CXW]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, CoreCivic Inc. posted 0.4/share EPS, while the average EPS was predicted by analysts to be reported at 0.39/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CXW. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for CoreCivic Inc. go to 6.00%.

An analysis of insider ownership at CoreCivic Inc. [CXW]

There are presently around $579 million, or 71.20% of CXW stock, in the hands of institutional investors. The top three institutional holders of CXW stocks are: VANGUARD GROUP INC with ownership of 18,303,885, which is approximately -2.134% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 14,172,658 shares of the stock with an approximate value of $97.08 million in CXW stocks shares; and STATE STREET CORP, currently with $27.3 million in CXW stock with ownership of nearly -4.12% of the company’s market capitalization.

Positions in CoreCivic Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 136 institutional holders increased their position in CoreCivic Inc. [NYSE:CXW] by around 8,664,096 shares. Additionally, 102 investors decreased positions by around 10,086,272 shares, while 33 investors held positions by with 65,759,929 shares. The mentioned changes placed institutional holdings at 84,510,297 shares, according to the latest SEC report filing. CXW stock had 39 new institutional investments in for a total of 2,458,856 shares, while 33 institutional investors sold positions of 3,686,525 shares during the same period.

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