SunTrust Banks, Inc. reiterated their buy rating on shares of Corrections Corp. of America (NYSE:CXW) in a research report released on Friday morning. The firm currently has a $37.00 price objective on the real estate investment trust’s stock. SunTrust Banks also issued estimates for Corrections Corp. of America’s FY2017 earnings at $2.33 EPS and Q4 2018 earnings at $0.57 EPS.

CXW has been the subject of several other reports. Zacks Investment Research raised Corrections Corp. of America from a hold rating to a buy rating and set a $30.00 target price for the company in a report on Friday, August 4th. TheStreet downgraded Corrections Corp. of America from a b- rating to a c+ rating in a report on Monday, August 21st. ValuEngine downgraded Corrections Corp. of America from a strong-buy rating to a buy rating in a report on Friday, September 1st. Canaccord Genuity set a $36.00 target price on Corrections Corp. of America and gave the company a buy rating in a report on Monday, August 7th. Finally, BidaskClub downgraded Corrections Corp. of America from a sell rating to a strong sell rating in a report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $34.25.

Shares of Corrections Corp. of America (CXW) opened at $24.61 on Friday. Corrections Corp. of America has a fifty-two week low of $19.15 and a fifty-two week high of $35.33. The company has a market capitalization of $2,909.00, a price-to-earnings ratio of 9.88, a PEG ratio of 1.76 and a beta of 0.91. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.97.

Corrections Corp. of America (NYSE:CXW) last announced its earnings results on Wednesday, November 8th. The real estate investment trust reported $0.56 EPS for the quarter, beating the consensus estimate of $0.54 by $0.02. Corrections Corp. of America had a return on equity of 13.54% and a net margin of 11.03%. The business had revenue of $442.80 million during the quarter, compared to the consensus estimate of $437.18 million. During the same period in the prior year, the business posted $0.69 earnings per share. Corrections Corp. of America’s revenue was down 6.8% compared to the same quarter last year. sell-side analysts anticipate that Corrections Corp. of America will post 2.33 EPS for the current year.

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In related news, Director Thurgood Marshall, Jr. sold 2,360 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $25.90, for a total value of $61,124.00. Following the completion of the sale, the director now directly owns 31,083 shares of the company’s stock, valued at approximately $805,049.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David Garfinkle sold 10,000 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $25.90, for a total value of $259,000.00. Following the completion of the sale, the chief financial officer now directly owns 90,114 shares of the company’s stock, valued at $2,333,952.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,360 shares of company stock valued at $580,224. Company insiders own 1.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. purchased a new stake in Corrections Corp. of America in the 1st quarter worth about $116,000. Advisory Services Network LLC increased its position in Corrections Corp. of America by 115.0% in the 2nd quarter. Advisory Services Network LLC now owns 4,093 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 2,189 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Corrections Corp. of America by 11.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,266 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 452 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new position in Corrections Corp. of America in the 2nd quarter worth about $173,000. Finally, Parametrica Management Ltd acquired a new position in Corrections Corp. of America in the 2nd quarter worth about $201,000. 86.55% of the stock is owned by hedge funds and other institutional investors.

About Corrections Corp. of America

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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