Tue Nov 12 11:49:15 UTC 2024: ## CoreCivic Stock Price Target Raised by Northland Securities

**Sioux Falls, SD** – CoreCivic (NYSE: CXW), a real estate investment trust specializing in correctional facilities, saw its price target raised by Northland Securities from $17.00 to $32.00. The firm, which maintains an “Outperform” rating on the company’s stock, believes this represents a potential upside of 42.16% from the previous closing price.

Meanwhile, Wedbush reiterated a “Neutral” rating and issued a $14.00 price target for CoreCivic.

CoreCivic’s stock closed at $22.51 on Friday, up $0.43 for the day. The company has a market capitalization of $2.48 billion, a P/E ratio of 33.60, and a beta of 0.86.

The company reported earnings for the quarter ending August 7th, missing analysts’ estimates by $0.20. However, revenue for the quarter came in at $490.11 million, slightly surpassing analyst expectations.

Despite the missed earnings target, CoreCivic’s revenue grew by 5.7% year-over-year.

**Insider Trading:**

Patrick D. Swindle, the COO of CoreCivic, sold 15,000 shares of the company’s stock on August 12th at an average price of $12.40, generating a total value of $186,000. Lucibeth Mayberry, the EVP, also sold 40,000 shares on August 14th for a total of $505,200.

**Institutional Investors:**

Several institutional investors have recently modified their holdings of CoreCivic. Notably, SG Americas Securities LLC significantly boosted its stake in the company during the 3rd quarter, increasing its position by 1,740.4%.

**CoreCivic’s Business:**

CoreCivic, Inc. operates correctional, detention, and residential reentry facilities across the United States. The company provides a variety of services to government partners, including correctional and detention management, reentry programs, and government real estate solutions.

While Northland Securities’ optimistic outlook stands out, it’s important to note that other analysts have expressed more reserved views. MarketBeat, a research platform, notes that CoreCivic currently holds a “Hold” rating among analysts, with other companies potentially offering better investment opportunities.

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