Corrections Corp. of America (NYSE:CXW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The firm currently has a $26.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price objective points to a potential upside of 15.66% from the company’s previous close.

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 analysts have also recently issued reports on CXW. SunTrust Banks reaffirmed a “buy” rating and set a $37.00 price objective on shares of Corrections Corp. of America in a report on Monday, October 2nd. Deutsche Bank cut their target price on Corrections Corp. of America from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, August 8th. Canaccord Genuity set a $36.00 target price on Corrections Corp. of America and gave the company a “buy” rating in a research report on Monday, August 7th. TheStreet downgraded Corrections Corp. of America from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. Finally, ValuEngine downgraded Corrections Corp. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Corrections Corp. of America presently has a consensus rating of “Hold” and a consensus target price of $33.50.

Corrections Corp. of America (NYSE:CXW) opened at $22.48 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.97. Corrections Corp. of America has a twelve month low of $22.35 and a twelve month high of $35.33. The company has a market capitalization of $2,736.43, a P/E ratio of 9.30, a P/E/G ratio of 1.65 and a beta of 0.88.

Corrections Corp. of America (NYSE:CXW) last issued its quarterly earnings data on Wednesday, November 8th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.02. The business had revenue of $442.80 million for the quarter, compared to analysts’ expectations of $437.18 million. Corrections Corp. of America had a return on equity of 13.54% and a net margin of 11.03%. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 EPS. analysts anticipate that Corrections Corp. of America will post 2.34 earnings per share for the current year.

In other news, Director Thurgood Marshall, Jr. sold 2,360 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $25.90, for a total transaction of $61,124.00. Following the transaction, the director now owns 31,083 shares of the company’s stock, valued at approximately $805,049.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David Garfinkle sold 10,000 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $25.90, for a total value of $259,000.00. Following the transaction, the chief financial officer now directly owns 90,114 shares in the company, valued at approximately $2,333,952.60. The disclosure for this sale can be found here. Insiders sold a total of 22,360 shares of company stock worth $580,224 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC grew its position in shares of Corrections Corp. of America by 115.0% during the 2nd quarter. Advisory Services Network LLC now owns 4,093 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 2,189 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Corrections Corp. of America by 11.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,266 shares of the real estate investment trust’s stock worth $118,000 after buying an additional 452 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Corrections Corp. of America by 152.7% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,818 shares of the real estate investment trust’s stock worth $156,000 after buying an additional 3,516 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Corrections Corp. of America by 8.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 8,272 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 629 shares in the last quarter. Finally, Stevens Capital Management LP bought a new position in shares of Corrections Corp. of America during the 2nd quarter worth $228,000. 83.20% of the stock is currently owned by institutional investors and hedge funds.

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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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