Zacks Investment Research upgraded shares of Corrections Corp. of America (NYSE:CXW) from a hold rating to a buy rating in a research report sent to investors on Monday morning. They currently have $26.00 price objective on the real estate investment trust’s stock.

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. “

CXW has been the subject of several other research reports. ValuEngine raised Corrections Corp. of America from a buy rating to a strong-buy rating in a research report on Friday, August 18th. SunTrust Banks reaffirmed a buy rating and issued a $37.00 target price on shares of Corrections Corp. of America in a research report on Friday, November 10th. Deutsche Bank decreased 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 report 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 report on Monday, August 7th. Finally, TheStreet cut Corrections Corp. of America from a b- rating to a c+ rating in a research report on Monday, August 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $33.50.

Shares of Corrections Corp. of America (NYSE:CXW) traded up $0.17 during midday trading on Monday, hitting $22.56. The company had a trading volume of 597,200 shares, compared to its average volume of 1,023,272. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.97. The firm has a market cap of $2,680.00, a PE ratio of 8.99, a price-to-earnings-growth ratio of 1.60 and a beta of 0.88. Corrections Corp. of America has a twelve month low of $22.21 and a twelve month high of $35.33.

Corrections Corp. of America (NYSE:CXW) last issued its earnings results on Wednesday, November 8th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ 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 quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 EPS. sell-side analysts expect that Corrections Corp. of America will post 2.34 EPS for the current year.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Corrections Corp. of America by 2.4% during the second 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 during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Corrections Corp. of America by 4.5% in the third quarter. Bank of New York Mellon Corp now owns 2,140,892 shares of the real estate investment trust’s stock worth $57,312,000 after buying an additional 92,348 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Corrections Corp. of America in the third quarter worth about $34,152,000. Lee Danner & Bass Inc. lifted its position in shares of Corrections Corp. of America by 3.1% in the third quarter. Lee Danner & Bass Inc. now owns 1,216,716 shares of the real estate investment trust’s stock worth $32,571,000 after buying an additional 36,318 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Corrections Corp. of America by 10.6% in the third quarter. Jennison Associates LLC now owns 1,167,911 shares of the real estate investment trust’s stock worth $31,265,000 after buying an additional 111,471 shares during the last quarter. 83.20% of the stock is owned by hedge funds and other institutional investors.

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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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