Zacks Investment Research downgraded shares of CoreCivic, Inc. (NYSE:CXW) from a hold rating to a sell rating in a research note published on Friday morning.

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. “

A number of other research analysts also recently issued reports on the stock. BidaskClub downgraded shares of CoreCivic from a sell rating to a strong sell rating in a research report on Tuesday, August 1st. ValuEngine upgraded shares of CoreCivic from a buy rating to a strong-buy rating in a research report on Thursday, October 5th. TheStreet downgraded shares of CoreCivic from a b- rating to a c+ rating in a research report on Monday, August 21st. Canaccord Genuity set a $36.00 target price on shares of CoreCivic and gave the company a buy rating in a research report on Monday, August 7th. Finally, SunTrust Banks, Inc. restated a buy rating and set a $37.00 target price on shares of CoreCivic in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $34.25.

Shares of CoreCivic (NYSE:CXW) traded down $1.21 during trading hours on Friday, reaching $24.61. 1,086,100 shares of the company’s stock were exchanged, compared to its average volume of 1,040,685. CoreCivic has a 12-month low of $19.15 and a 12-month high of $35.33. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.97. The company has a market cap of $3,052.03, a price-to-earnings ratio of 10.37, a P/E/G ratio of 1.85 and a beta of 0.91.

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

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In related news, CFO David Garfinkle sold 10,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $2,333,952.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kim White sold 5,000 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $26.27, for a total transaction of $131,350.00. Following the completion of the sale, the executive vice president now owns 22,393 shares in the company, valued at $588,264.11. The disclosure for this sale can be found here. Insiders sold a total of 27,360 shares of company stock worth $711,574 over the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of CoreCivic by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 19,273,935 shares of the real estate investment trust’s stock valued at $531,576,000 after acquiring an additional 459,903 shares during the period. Daiwa Securities Group Inc. raised its position in shares of CoreCivic by 43.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,865,032 shares of the real estate investment trust’s stock valued at $106,598,000 after acquiring an additional 1,170,205 shares during the period. Acadian Asset Management LLC raised its position in shares of CoreCivic by 2.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,306,883 shares of the real estate investment trust’s stock valued at $63,624,000 after acquiring an additional 56,639 shares during the period. Bank of New York Mellon Corp raised its position in shares of CoreCivic by 4.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,140,892 shares of the real estate investment trust’s stock valued at $57,312,000 after acquiring an additional 92,348 shares during the period. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in shares of CoreCivic in the 3rd quarter valued at approximately $34,152,000. Institutional investors and hedge funds own 86.55% of the company’s stock.

About CoreCivic

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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