Corrections Corp. of America (NYSE:CXW) was upgraded by research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a report released on Friday.

A number of other analysts have also recently weighed in on CXW. Zacks Investment Research upgraded shares of Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Thursday, April 20th. Canaccord Genuity restated a “buy” rating and issued a $34.00 price target on shares of Corrections Corp. of America in a report on Wednesday, May 3rd. Deutsche Bank AG raised 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 report on Friday, May 5th. Finally, BidaskClub cut shares of Corrections Corp. of America from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $30.00.

Corrections Corp. of America (NYSE CXW) traded down 0.69% on Friday, hitting $24.42. 629,539 shares of the stock traded hands. The company has a market capitalization of $2.89 billion, a PE ratio of 13.59 and a beta of 0.92. Corrections Corp. of America has a 12 month low of $12.99 and a 12 month high of $35.33. The firm has a 50-day moving average price of $27.18 and a 200-day moving average price of $30.50.

Corrections Corp. of America (NYSE:CXW) last released its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share 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 business had revenue of $436.39 million for the quarter, compared to analysts’ expectations of $437.92 million. During the same period last year, the business earned $0.49 EPS. The company’s revenue was down 5.8% compared to the same quarter last year. Analysts forecast that Corrections Corp. of America will post $1.53 earnings per share for the current year.

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In related news, EVP Lucibeth Mayberry sold 6,236 shares of Corrections Corp. of America stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $30.41, for a total value of $189,636.76. Following the completion of the sale, the executive vice president now directly owns 51,851 shares in the company, valued at approximately $1,576,788.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kim White sold 5,000 shares of Corrections Corp. of America stock in a transaction that occurred on Monday, August 14th. The stock was 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 of the company’s stock, valued at $588,264.11. The disclosure for this sale can be found here. Insiders sold a total of 16,236 shares of company stock valued at $473,687 over the last quarter. 1.30% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Corrections Corp. of America by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,243 shares of the real estate investment trust’s stock worth $476,000 after buying an additional 55 shares during the period. World Asset Management Inc boosted its stake in Corrections Corp. of America by 1.8% in the first quarter. World Asset Management Inc now owns 8,756 shares of the real estate investment trust’s stock worth $275,000 after buying an additional 155 shares during the period. Capstone Asset Management Co. boosted its stake in Corrections Corp. of America by 1.4% in the first quarter. Capstone Asset Management Co. now owns 12,446 shares of the real estate investment trust’s stock worth $391,000 after buying an additional 170 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Corrections Corp. of America by 1.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 18,673 shares of the real estate investment trust’s stock worth $587,000 after buying an additional 300 shares during the period. Finally, Steinberg Global Asset Management boosted its stake in Corrections Corp. of America by 1.6% in the second quarter. Steinberg Global Asset Management now owns 23,158 shares of the real estate investment trust’s stock worth $639,000 after buying an additional 369 shares during the period. Institutional investors own 88.79% of the company’s stock.

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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