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 Friday, August 4th. The brokerage presently has a $30.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price objective points to a potential upside of 22.85% from the stock’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. “

Other research analysts have also recently issued research reports about the stock. Canaccord Genuity set a $36.00 price target on shares of Corrections Corp. of America and gave the stock a “buy” rating in a report on Friday, May 19th. Deutsche Bank AG increased their target price on shares of Corrections Corp. of America from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, May 15th. ValuEngine upgraded shares of Corrections Corp. of America from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Finally, BidaskClub lowered shares of Corrections Corp. of America from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Corrections Corp. of America has an average rating of “Buy” and a consensus price target of $30.00.

Corrections Corp. of America (NYSE:CXW) traded down 0.69% on Friday, hitting $24.42. The company had a trading volume of 629,539 shares. The stock’s 50-day moving average price is $27.18 and its 200 day moving average price is $30.50. Corrections Corp. of America has a one year low of $12.99 and a one year high of $35.33. The company has a market capitalization of $2.89 billion, a P/E ratio of 13.59 and a beta of 0.92.

Corrections Corp. of America (NYSE:CXW) last posted its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.59 EPS for the quarter, beating the consensus estimate of $0.36 by $0.23. The business had revenue of $436.39 million for the quarter, compared to the consensus estimate of $437.92 million. Corrections Corp. of America had a return on equity of 14.54% and a net margin of 11.62%. Corrections Corp. of America’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. On average, analysts expect that Corrections Corp. of America will post $1.53 EPS for the current fiscal year.

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In related news, EVP Lucibeth Mayberry sold 5,000 shares of Corrections Corp. of America stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $30.54, for a total transaction of $152,700.00. Following the transaction, the executive vice president now owns 45,615 shares in the company, valued at approximately $1,393,082.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 16,236 shares of company stock worth $473,687. 1.30% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CXW. Cetera Investment Advisers bought a new stake in shares of Corrections Corp. of America during the second quarter valued at approximately $583,000. Advisory Services Network LLC boosted its stake in shares of Corrections Corp. of America by 115.0% in the second quarter. Advisory Services Network LLC now owns 4,093 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 2,189 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of Corrections Corp. of America by 32.0% in the second quarter. Sterling Capital Management LLC now owns 109,101 shares of the real estate investment trust’s stock valued at $3,009,000 after buying an additional 26,431 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in Corrections Corp. of America by 1.9% in the second quarter. Ameritas Investment Partners Inc. now owns 35,357 shares of the real estate investment trust’s stock worth $975,000 after buying an additional 670 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Corrections Corp. of America by 8.2% in the second 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 during the period. Institutional investors own 88.79% of the company’s stock.

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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