Wedbush lifts CoreCivic Inc. [CXW] price estimate. Who else is bullish?


CoreCivic Inc. [NYSE: CXW] slipped around -1.74 points on Thursday, while shares priced at $11.99 at the close of the session, down -12.67%. The company report on May 4, 2022 that CoreCivic Reports First Quarter 2022 Financial Results.

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CoreCivic, Inc. (NYSE: CXW) (the Company) announced today its financial results for the first quarter of 2022.

CoreCivic Inc. stock is now 20.26% up from its year-to-date (YTD) trading value. CXW Stock saw the intraday high of $12.34 and lowest of $10.40 per share. The company’s 52-week high price is 14.24, which means current price is +42.91% above from all time high which was touched on 04/20/22.

Compared to the average trading volume of 932.84K shares, CXW reached a trading volume of 3337572 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $16.67 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 2.50. 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.

Wedbush have made an estimate for CoreCivic Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 14, 2022. While these analysts kept the previous recommendation, Wedbush raised their target price to Neutral. The new note on the price target was released on June 18, 2021, representing the official price target for CoreCivic Inc. stock. Previously, the target price had yet another raise to $20, while Noble Capital Markets analysts kept a Outperform rating on CXW stock. On February 10, 2017, analysts increased their price target for CXW shares from 30 to 34.

The Average True Range (ATR) for CoreCivic Inc. is set at 0.81, with the Price to Sales ratio for CXW stock in the period of the last 12 months amounting to 0.82. 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 2.36. Price to Free Cash Flow for CXW in the course of the last twelve months was 6.29 with Quick ratio for the last quarter at 1.80.

How has CXW stock performed recently?

CoreCivic Inc. [CXW] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.77. With this latest performance, CXW shares gained by 5.64% in over the last four-week period, additionally plugging by 28.92% over the last 6 months – not to mention a rise of 51.58% 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 48.35, with the RSI for the last a single of trading hit 42.83, and the three-weeks RSI is set at 51.53 for CoreCivic Inc. [CXW]. The present Moving Average for the last 50 days of trading for this stock 10.83, while it was recorded at 12.86 for the last single week of trading, and 10.10 for the last 200 days.

CoreCivic Inc. [CXW]: Deeper insight into the fundamentals

CoreCivic Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 1.80.

Earnings analysis for CoreCivic Inc. [CXW]

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%.

Insider trade positions for CoreCivic Inc. [CXW]

There are presently around $1,377 million, or 84.30% of CXW stock, in the hands of institutional investors. The top three institutional holders of CXW stocks are: BLACKROCK INC. with ownership of 18,955,374, which is approximately 1.925% of the company’s market cap and around 2.50% of the total institutional ownership; FMR LLC, holding 18,042,291 shares of the stock with an approximate value of $247.72 million in CXW stocks shares; and VANGUARD GROUP INC, currently with $177.48 million in CXW stock with ownership of nearly 1.363% of the company’s market capitalization.

98 institutional holders increased their position in CoreCivic Inc. [NYSE:CXW] by around 5,435,752 shares. Additionally, 96 investors decreased positions by around 6,228,545 shares, while 38 investors held positions by with 88,646,099 shares. The mentioned changes placed institutional holdings at 100,310,396 shares, according to the latest SEC report filing. CXW stock had 33 new institutional investments in for a total of 1,297,117 shares, while 24 institutional investors sold positions of 1,530,355 shares during the same period.