Corrections Corp. of America (NYSE:CXW) has been given a $36.00 price objective by Canaccord Genuity in a research note issued to investors on Monday. The firm presently has a “buy” rating on the real estate investment trust’s stock. Canaccord Genuity’s price target would indicate a potential upside of 36.73% from the company’s previous close.

A number of other brokerages have also issued reports on CXW. BidaskClub lowered Corrections Corp. of America from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research lowered Corrections Corp. of America from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. Deutsche Bank AG increased their price target on Corrections Corp. of America from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, May 5th. Finally, ValuEngine raised Corrections Corp. of America from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $30.25.

Shares of Corrections Corp. of America (NYSE:CXW) opened at 26.33 on Monday. Corrections Corp. of America has a 52-week low of $12.99 and a 52-week high of $35.33. The firm’s 50-day moving average price is $27.89 and its 200-day moving average price is $30.72. The stock has a market capitalization of $3.11 billion, a P/E ratio of 13.86 and a beta of 0.92.

Corrections Corp. of America (NYSE:CXW) last issued its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.23. The firm had revenue of $436.39 million during the quarter, compared to analyst estimates of $437.92 million. Corrections Corp. of America had a return on equity of 14.56% and a net margin of 11.62%. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period last year, the company posted $0.49 EPS. Equities analysts forecast that Corrections Corp. of America will post $1.53 earnings per share for the current fiscal year.

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In other news, EVP Lucibeth Mayberry sold 5,000 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $30.54, for a total transaction of $152,700.00. Following the completion of the sale, the executive vice president now directly owns 45,615 shares of the company’s stock, valued at approximately $1,393,082.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Anthony L. Grande sold 23,000 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $33.86, for a total value of $778,780.00. Following the sale, the executive vice president now directly owns 39,510 shares of the company’s stock, valued at $1,337,808.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,236 shares of company stock valued at $1,121,117. Corporate insiders own 1.30% of the company’s stock.

Several large investors have recently added to or reduced their stakes in CXW. Russell Investments Group Ltd. raised its stake in Corrections Corp. of America by 49.7% in the first quarter. Russell Investments Group Ltd. now owns 348,542 shares of the real estate investment trust’s stock valued at $10,952,000 after buying an additional 115,727 shares in the last quarter. ARP Americas LLC raised its stake in Corrections Corp. of America by 28.1% in the first quarter. ARP Americas LLC now owns 17,776 shares of the real estate investment trust’s stock valued at $559,000 after buying an additional 3,900 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Corrections Corp. of America by 5.3% in the first quarter. Janney Montgomery Scott LLC now owns 38,076 shares of the real estate investment trust’s stock valued at $1,196,000 after buying an additional 1,925 shares in the last quarter. Glen Harbor Capital Management LLC raised its stake in Corrections Corp. of America by 3.0% in the first quarter. Glen Harbor Capital Management LLC now owns 99,568 shares of the real estate investment trust’s stock valued at $3,128,000 after buying an additional 2,928 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Corrections Corp. of America during the first quarter valued at $70,703,000. 89.46% of the stock is owned by institutional investors and hedge funds.

Corrections Corp. of America Company Profile

CoreCivic, Inc, formerly Corrections Corporation of America, is a diversified government solutions company. The Company provides partnership correctional, detention and residential reentry facilities and operates prison in the United States. The Company’s business offerings include CoreCivic Safety, CoreCivic Properties, and CoreCivic Community.

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