Corrections Corp. of America (NYSE:CXW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

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 a number of other reports. Canaccord Genuity set a $36.00 price target on shares of Corrections Corp. of America and gave the company a “buy” rating in a research report on Friday, May 19th. TheStreet cut shares of Corrections Corp. of America from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. Deutsche Bank AG lifted their price target on shares of Corrections Corp. of America from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, May 15th. BidaskClub cut shares of Corrections Corp. of America from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Finally, ValuEngine raised shares of Corrections Corp. of America from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $30.25.

Shares of Corrections Corp. of America (NYSE:CXW) opened at 26.80 on Wednesday. The company has a market capitalization of $3.17 billion, a P/E ratio of 14.91 and a beta of 0.92. Corrections Corp. of America has a 52-week low of $12.99 and a 52-week high of $35.33. The stock’s 50 day moving average is $26.66 and its 200 day moving average is $30.23.

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

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In other news, Director Mark A. Emkes bought 5,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was acquired at an average cost of $25.62 per share, with a total value of $128,100.00. Following the completion of the acquisition, the director now owns 44,426 shares of the company’s stock, valued at $1,138,194.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Cetera Investment Advisers purchased a new position in shares of Corrections Corp. of America during the second quarter valued at about $583,000. Advisory Services Network LLC boosted its position 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 period. Sterling Capital Management LLC boosted its position 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 period. Ameritas Investment Partners Inc. boosted its position in shares of 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 valued at $975,000 after buying an additional 670 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of 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 valued at $228,000 after buying an additional 629 shares during the period. 86.18% of the stock is owned by institutional investors and hedge funds.

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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