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 to investors on Friday. The brokerage presently has a $30.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.29% from the company’s previous close.

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 issued research reports about the stock. Canaccord Genuity set a $36.00 price objective on shares of Corrections Corp. of America and gave the stock a “buy” rating in a research note on Friday, May 19th. Deutsche Bank AG increased their price objective on shares of Corrections Corp. of America from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. ValuEngine upgraded shares of Corrections Corp. of America from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Finally, BidaskClub lowered shares of Corrections Corp. of America from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. Corrections Corp. of America presently has an average rating of “Buy” and an average price target of $31.50.

Corrections Corp. of America (CXW) traded up 0.74% during mid-day trading on Friday, reaching $27.20. 1,290,264 shares of the company’s stock traded hands. Corrections Corp. of America has a one year low of $12.99 and a one year high of $35.33. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 14.32 and a beta of 0.92. The firm’s 50-day moving average price is $28.12 and its 200 day moving average price is $30.81.

Corrections Corp. of America (NYSE:CXW) last posted its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.06. Corrections Corp. of America had a net margin of 12.10% and a return on equity of 15.42%. The company had revenue of $445.70 million during the quarter, compared to analysts’ expectations of $446.12 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. Corrections Corp. of America’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities analysts forecast that Corrections Corp. of America will post $1.53 EPS for the current year.

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In other Corrections Corp. of America news, EVP Anthony L. Grande sold 23,000 shares of Corrections Corp. of America stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $33.86, for a total transaction of $778,780.00. Following the completion of the sale, the executive vice president now directly owns 39,510 shares in the company, valued at $1,337,808.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lucibeth Mayberry sold 6,236 shares of Corrections Corp. of America stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $30.41, for a total transaction of $189,636.76. Following the sale, the executive vice president now owns 51,851 shares of the company’s stock, valued at $1,576,788.91. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,236 shares of company stock worth $1,121,117. Insiders own 1.30% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. TLP Group LLC purchased a new position in shares of Corrections Corp. of America during the first quarter worth about $113,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Corrections Corp. of America during the first quarter worth about $116,000. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in shares of Corrections Corp. of America during the first quarter worth about $123,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Corrections Corp. of America during the first quarter worth about $126,000. Finally, Harbour Capital Advisors LLC purchased a new position in shares of Corrections Corp. of America during the first quarter worth about $162,000. Hedge funds and other institutional investors own 88.29% 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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