Corrections Corp. of America (NYSE:CXW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm presently has a $29.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.21% from the company’s current price.

According to Zacks, “CoreCivic, Inc. is a real estate investment trust which provides correctional, detention and residential reentry facilities. It designs, constructs, owns, manages and renovates jails, prisons, government agencies and inmate transportation companies. CoreCivic, Inc., formerly known as Corrections Corporation of America, is based in Nashville, Tennessee. “

Several other research analysts also recently weighed in on the company. BidaskClub downgraded Corrections Corp. of America from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. ValuEngine raised Corrections Corp. of America from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. Deutsche Bank AG reduced their target price on Corrections Corp. of America from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, August 8th. Canaccord Genuity set a $36.00 target price on Corrections Corp. of America and gave the stock a “buy” rating in a research note on Monday, August 7th. Finally, TheStreet downgraded Corrections Corp. of America from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $30.00.

Shares of Corrections Corp. of America (CXW) traded down 0.37% during mid-day trading on Thursday, reaching $25.84. 351,836 shares of the company traded hands. The stock has a market capitalization of $3.05 billion, a PE ratio of 14.38 and a beta of 0.92. The firm has a 50 day moving average of $26.20 and a 200-day moving average of $29.84. Corrections Corp. of America has a 52 week low of $12.99 and a 52 week high of $35.33.

Corrections Corp. of America (NYSE:CXW) last issued its earnings results on Monday, August 7th. The real estate investment trust reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.23. Corrections Corp. of America had a return on equity of 14.54% and a net margin of 11.62%. The firm had revenue of $436.39 million for the quarter, compared to analyst estimates of $437.92 million. During the same quarter in the prior year, the firm earned $0.49 earnings per share. Corrections Corp. of America’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, equities research analysts expect that Corrections Corp. of America will post $1.52 EPS for the current fiscal year.

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In other news, Director Mark A. Emkes bought 5,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was bought at an average cost of $25.62 per share, for a total transaction of $128,100.00. Following the acquisition, the director now directly owns 44,426 shares of the company’s stock, valued at approximately $1,138,194.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Corrections Corp. of America by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 19,273,935 shares of the real estate investment trust’s stock valued at $531,576,000 after purchasing an additional 459,903 shares in the last quarter. BlackRock Inc. raised its position in Corrections Corp. of America by 13,997.1% in the 1st quarter. BlackRock Inc. now owns 10,765,267 shares of the real estate investment trust’s stock valued at $338,241,000 after purchasing an additional 10,688,902 shares in the last quarter. FMR LLC raised its position in Corrections Corp. of America by 108.8% in the 1st quarter. FMR LLC now owns 7,127,278 shares of the real estate investment trust’s stock valued at $223,939,000 after purchasing an additional 3,713,585 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Corrections Corp. of America by 43.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,865,032 shares of the real estate investment trust’s stock valued at $106,598,000 after purchasing an additional 1,170,205 shares in the last quarter. Finally, State Street Corp acquired a new stake in Corrections Corp. of America in the 1st quarter valued at about $100,342,000. 86.18% of the stock is currently owned by institutional investors.

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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