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 Wednesday. The firm currently has a $30.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.94% from the company’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. “

Several other equities analysts have also recently issued reports on CXW. Canaccord Genuity set a $36.00 price objective on Corrections Corp. of America and gave the company a “buy” rating in a research note on Friday, May 19th. Deutsche Bank AG lifted their price objective on Corrections Corp. of America from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, May 15th. ValuEngine upgraded Corrections Corp. of America from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. TheStreet cut Corrections Corp. of America from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. Finally, BidaskClub cut Corrections Corp. of America from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Corrections Corp. of America currently has a consensus rating of “Buy” and an average price target of $30.25.

Corrections Corp. of America (NYSE:CXW) traded up 1.63% during mid-day trading on Wednesday, reaching $26.80. 952,656 shares of the company were exchanged. Corrections Corp. of America has a 1-year low of $12.99 and a 1-year high of $35.33. The stock’s 50-day moving average price is $26.52 and its 200-day moving average price is $30.09. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 14.91 and a beta of 0.92.

Corrections Corp. of America (NYSE:CXW) last announced its earnings results on Monday, August 7th. The real estate investment trust reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.23. Corrections Corp. of America had a return on equity of 14.54% and a net margin of 11.62%. 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 business posted $0.49 EPS. Corrections Corp. of America’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, equities research analysts anticipate that Corrections Corp. of America will post $1.53 EPS for the current fiscal year.

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In other Corrections Corp. of America news, Director Mark A. Emkes bought 5,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were acquired at an average price of $25.62 per share, with a total value of $128,100.00. Following the transaction, the director now owns 44,426 shares of the company’s stock, valued at $1,138,194.12. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CXW. BlackRock Inc. raised its position in shares of Corrections Corp. of America by 13,997.1% during the 1st quarter. BlackRock Inc. now owns 10,765,267 shares of the real estate investment trust’s stock worth $338,241,000 after acquiring an additional 10,688,902 shares in the last quarter. FMR LLC raised its position in shares of Corrections Corp. of America by 108.8% during the 1st quarter. FMR LLC now owns 7,127,278 shares of the real estate investment trust’s stock worth $223,939,000 after acquiring an additional 3,713,585 shares in the last quarter. State Street Corp acquired a new stake in shares of Corrections Corp. of America during the 1st quarter worth about $100,342,000. Daiwa Securities Group Inc. raised its position in shares of Corrections Corp. of America by 43.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,865,032 shares of the real estate investment trust’s stock worth $106,598,000 after acquiring an additional 1,170,205 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Corrections Corp. of America by 76.3% during the 1st quarter. Prudential Financial Inc. now owns 2,518,610 shares of the real estate investment trust’s stock worth $79,135,000 after acquiring an additional 1,089,700 shares in the last quarter. 86.18% of the stock is currently owned by institutional investors and hedge funds.

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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