Noble Capital Markets lifts CoreCivic Inc. [CXW] price estimate. Who else is bullish?

CoreCivic Inc. [NYSE: CXW] gained 17.92% or 1.69 points to close at $11.12 with a heavy trading volume of 15759156 shares. The company report on May 29, 2021 that CoreCivic Enters Into New Contract with Mahoning County, Ohio at the Northeast Ohio Correctional Center.

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CoreCivic, Inc. (NYSE: CXW) (the Company) announced that it has entered into a new three-year contract with Mahoning County, Ohio to utilize up to 990 beds at the Company’s 2,016-bed Northeast Ohio Correctional Center. Mahoning County is responsible for County inmates and federal detainees, and the County expects to use the Northeast Ohio facility to address its population needs.

The new contract is scheduled to commence on May 31, 2021. In addition to providing much needed capacity for Mahoning County, the Company also currently cares for approximately 800 inmates under a management contract with the State of Ohio at the Northeast Ohio Correctional Center. The Company will continue to operate the facility pursuant to both contracts.

It opened the trading session at $9.98, the shares rose to $11.41 and dropped to $9.84, the range by which the price of stock traded the whole day. The daily chart for CXW points out that the company has recorded 46.51% gains over the past six months. However, it is still -93.06% lower than its most recent low trading price.

If we look at the average trading volume of 2.19M shares, CXW reached to a volume of 15759156 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CXW shares is $15.30 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CXW stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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 0.49, with the Price to Sales ratio for CXW stock in the period of the last 12 months amounting to 0.72. The Price to Book ratio for the last quarter was 1.05, with the Price to Cash per share for the same quarter was set at 1.39. Price to Free Cash Flow for CXW in the course of the last twelve months was 4.42 with Quick ratio for the last quarter at 2.00.

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 28.85. With this latest performance, CXW shares gained by 37.79% in over the last four-week period, additionally plugging by 46.51% over the last 6 months – not to mention a drop of -21.47% 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 81.74, with the RSI for the last a single of trading hit 89.23, and the three-weeks RSI is set at 75.23 for CoreCivic Inc. [CXW]. The present Moving Average for the last 50 days of trading for this stock 8.28, while it was recorded at 9.59 for the last single week of trading, and 7.83 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 +12.47 and a Gross Margin at +19.00. CoreCivic Inc.’s Net Margin is presently recorded at +2.84.

Return on Total Capital for CXW is now 6.98, given the latest momentum, and Return on Invested Capital for the company is 1.63. 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 141.35. Additionally, CXW Total Debt to Total Capital is recorded at 58.57, with Total Debt to Total Assets ending up at 52.98. Long-Term Debt to Equity for the company is recorded at 136.67, with the Long-Term Debt to Total Capital now at 56.63.

Reflecting on the efficiency of the workforce at the company, CoreCivic Inc. [CXW] managed to generate an average of $4,362 per employee. Receivables Turnover for the company is 4.37 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 2.00 and a Current Ratio set at 2.00.

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

With the latest financial reports released by the company, CoreCivic Inc. posted 0.18/share EPS, while the average EPS was predicted by analysts to be reported at 0.18/share. 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 $1,005 million, or 76.40% of CXW stock, in the hands of institutional investors. The top three institutional holders of CXW stocks are: BLACKROCK INC. with ownership of 20,035,341, which is approximately 8.09% of the company’s market cap and around 1.90% of the total institutional ownership; VANGUARD GROUP INC, holding 12,370,355 shares of the stock with an approximate value of $137.56 million in CXW stocks shares; and RIVER ROAD ASSET MANAGEMENT, LLC, currently with $71.78 million in CXW stock with ownership of nearly 11497.733% of the company’s market capitalization.

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Positions in CoreCivic Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 91 institutional holders increased their position in CoreCivic Inc. [NYSE:CXW] by around 18,782,854 shares. Additionally, 136 investors decreased positions by around 16,622,410 shares, while 35 investors held positions by with 54,948,424 shares. The mentioned changes placed institutional holdings at 90,353,688 shares, according to the latest SEC report filing. CXW stock had 40 new institutional investments in for a total of 6,585,147 shares, while 55 institutional investors sold positions of 6,077,069 shares during the same period.

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