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 Thursday. The brokerage presently has a $29.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.21% 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. “

Several other analysts have also recently issued reports on the company. ValuEngine cut Corrections Corp. of America from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. TheStreet cut Corrections Corp. of America from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. Deutsche Bank AG cut their target price on Corrections Corp. of America from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, August 8th. Canaccord Genuity set a $36.00 target price on Corrections Corp. of America and gave the stock a “buy” rating in a research report on Monday, August 7th. Finally, BidaskClub cut Corrections Corp. of America from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $30.00.

Shares of Corrections Corp. of America (NYSE:CXW) traded down 0.366% during mid-day trading on Thursday, hitting $25.845. The stock had a trading volume of 351,836 shares. Corrections Corp. of America has a 12 month low of $12.99 and a 12 month high of $35.33. The company has a market cap of $3.05 billion, a PE ratio of 14.382 and a beta of 0.92. The stock’s 50-day moving average is $26.20 and its 200 day moving average is $29.84.

Corrections Corp. of America (NYSE:CXW) last released its earnings results on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $436.39 million during the quarter, compared to analysts’ expectations of $437.92 million. During the same quarter last year, the business posted $0.49 earnings per share. The firm’s revenue was down 5.8% on a year-over-year basis. On average, equities research analysts forecast that Corrections Corp. of America will post $1.52 earnings per share for the current fiscal year.

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In related news, EVP Kim White sold 5,000 shares of the stock in a transaction dated 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 in the company, valued at $588,264.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers bought a new position in Corrections Corp. of America during the second quarter valued at approximately $583,000. Advisory Services Network LLC boosted its stake in Corrections Corp. of America by 115.0% during 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 last quarter. Sterling Capital Management LLC boosted its stake in Corrections Corp. of America by 32.0% during 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 last quarter. Ameritas Investment Partners Inc. boosted its stake in Corrections Corp. of America by 1.9% during 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 last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Corrections Corp. of America by 8.2% during 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 last quarter. 86.18% of the stock is owned by institutional investors.

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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