Wedbush slashes price target on CoreCivic Inc. [CXW] – find out why.

CoreCivic Inc. [NYSE: CXW] slipped around -0.08 points on Friday, while shares priced at $11.50 at the close of the session, down -0.69%. The company report on January 12, 2023 that CXW: Potential Upcoming Catalysts Include Pending Senior Note Redemption.


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CoreCivic Inc. stock is now -0.52% down from its year-to-date (YTD) trading value. CXW Stock saw the intraday high of $11.62 and lowest of $11.45 per share. The company’s 52-week high price is 14.24, which means current price is +5.02% above from all time high which was touched on 01/03/23.

Compared to the average trading volume of 1.03M shares, CXW reached a trading volume of 527314 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 $16.00 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 1.50. 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 0.38, with the Price to Sales ratio for CXW stock in the period of the last 12 months amounting to 1.43. The Price to Book ratio for the last quarter was 0.96, with the Price to Cash per share for the same quarter was set at 0.81. Price to Free Cash Flow for CXW in the course of the last twelve months was 35.23 with Quick ratio for the last quarter at 1.10.

How has CXW stock performed recently?

CoreCivic Inc. [CXW] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.09. With this latest performance, CXW shares dropped by -1.88% in over the last four-week period, additionally plugging by 4.64% over the last 6 months – not to mention a rise of 7.28% 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 48.13, with the RSI for the last a single of trading hit 47.96, and the three-weeks RSI is set at 49.42 for CoreCivic Inc. [CXW]. The present Moving Average for the last 50 days of trading for this stock 11.76, while it was recorded at 11.41 for the last single week of trading, and 11.09 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and CoreCivic Inc. [CXW] shares currently have an operating margin of +13.69 and a Gross Margin at +20.98. CoreCivic Inc.’s Net Margin is presently recorded at -2.79.

Return on Equity for this stock declined to -3.76, with Return on Assets sitting at -1.44.

CoreCivic Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

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 $1,075 million, or 83.50% of CXW stock, in the hands of institutional investors. The top three institutional holders of CXW stocks are: BLACKROCK INC. with ownership of 18,549,675, which is approximately -4.219% of the company’s market cap and around 1.60% of the total institutional ownership; VANGUARD GROUP INC, holding 13,237,846 shares of the stock with an approximate value of $152.24 million in CXW stocks shares; and FMR LLC, currently with $118.26 million in CXW stock with ownership of nearly -43.614% of the company’s market capitalization.

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 92 institutional holders increased their position in CoreCivic Inc. [NYSE:CXW] by around 7,732,806 shares. Additionally, 101 investors decreased positions by around 15,785,520 shares, while 41 investors held positions by with 69,947,219 shares. The mentioned changes placed institutional holdings at 93,465,545 shares, according to the latest SEC report filing. CXW stock had 32 new institutional investments in for a total of 2,474,019 shares, while 21 institutional investors sold positions of 5,172,814 shares during the same period.

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