Market Analysts see CoreCivic Inc. [CXW] gaining to $20. Time to buy?

CoreCivic Inc. [NYSE: CXW] gained 6.47% or 0.5 points to close at $8.23 with a heavy trading volume of 6431667 shares. The company report on February 26, 2021 that CoreCivic Expects the Contract with the United States Marshals Service at the Northeast Ohio Correctional Center Will Not be Renewed.

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CoreCivic, Inc. (NYSE: CXW) (the Company) announced that, effective March 1, 2021, it has entered into a 90-day contract extension with the United States Marshals Service (“USMS”) at the Company’s 2,016-bed Northeast Ohio Correctional Center. The USMS has notified the Company that it does not anticipate extending the contract following the 90-day extension.

While the Company is not currently aware of alternative locations where the USMS can house the approximately 800 federal detainees currently located at the Northeast Ohio facility, President Biden recently issued an executive order directing the Department of Justice not to renew contracts with privately operated criminal detention facilities.

It opened the trading session at $7.79, the shares rose to $8.81 and dropped to $7.71, the range by which the price of stock traded the whole day. The daily chart for CXW points out that the company has recorded -13.73% loss over the past six months. However, it is still -42.88% lower than its most recent low trading price.

If we look at the average trading volume of 2.63M shares, CXW reached to a volume of 6431667 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 0.52, with the Price to Sales ratio for CXW stock in the period of the last 12 months amounting to 0.50. The Price to Book ratio for the last quarter was 0.70, with the Price to Cash per share for the same quarter was set at 2.44. Price to Free Cash Flow for CXW in the course of the last twelve months was 9.60 with Quick ratio for the last quarter at 1.90.

Trading performance analysis for CXW stock

CoreCivic Inc. [CXW] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.42. With this latest performance, CXW shares gained by 31.47% in over the last four-week period, additionally sinking by -13.73% over the last 6 months – not to mention a drop of -48.98% 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 62.44, with the RSI for the last a single of trading hit 66.72, and the three-weeks RSI is set at 59.54 for CoreCivic Inc. [CXW]. The present Moving Average for the last 50 days of trading for this stock 7.16, while it was recorded at 7.65 for the last single week of trading, and 8.54 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 +11.75 and a Gross Margin at +18.28. CoreCivic Inc.’s Net Margin is presently recorded at +2.84.

Return on Total Capital for CXW is now 6.75, given the latest momentum, and Return on Invested Capital for the company is 1.67. Return on Equity for this stock inclined to 3.91, with Return on Assets sitting at 1.44. When it comes to the capital structure of this company, CoreCivic Inc. [CXW] has a Total Debt to Total Equity ratio set at 128.53. Additionally, CXW Total Debt to Total Capital is recorded at 56.24, with Total Debt to Total Assets ending up at 48.17. Long-Term Debt to Equity for the company is recorded at 125.72, with the Long-Term Debt to Total Capital now at 55.01.

Receivables Turnover for the company is 5.39 with a Total Asset Turnover recorded at a value of 0.51.CoreCivic Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 1.90.

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

With the latest financial reports released by the company, CoreCivic Inc. posted 0.27/share EPS, while the average EPS was predicted by analysts to be reported at 0.26/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3.80%. 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 $726 million, or 71.50% of CXW stock, in the hands of institutional investors. The top three institutional holders of CXW stocks are: BLACKROCK INC. with ownership of 18,535,802, which is approximately 4.465% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 13,887,378 shares of the stock with an approximate value of $114.29 million in CXW stocks shares; and STATE STREET CORP, currently with $32.91 million in CXW stock with ownership of nearly 1.332% of the company’s market capitalization.

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Positions in CoreCivic Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 114 institutional holders increased their position in CoreCivic Inc. [NYSE:CXW] by around 15,493,975 shares. Additionally, 124 investors decreased positions by around 15,028,975 shares, while 35 investors held positions by with 57,688,203 shares. The mentioned changes placed institutional holdings at 88,211,153 shares, according to the latest SEC report filing. CXW stock had 44 new institutional investments in for a total of 3,435,105 shares, while 46 institutional investors sold positions of 1,931,588 shares during the same period.

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