Corrections Corp. of America (NYSE:CXW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $29.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.19% 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. “

CXW has been the subject of several other reports. ValuEngine raised shares of Corrections Corp. of America from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. BidaskClub cut shares of Corrections Corp. of America from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Deutsche Bank AG cut their target price on shares of Corrections Corp. of America from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, August 8th. Canaccord Genuity set a $36.00 target price on shares of Corrections Corp. of America and gave the company a “buy” rating in a research note on Monday, August 7th. Finally, TheStreet cut shares of Corrections Corp. of America from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $30.00.

Corrections Corp. of America (NYSE:CXW) last posted its earnings results on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.23. The company had revenue of $436.39 million during the quarter, compared to analysts’ expectations of $437.92 million. Corrections Corp. of America had a net margin of 11.62% and a return on equity of 14.54%. Corrections Corp. of America’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period last year, the company posted $0.49 earnings per share.

TRADEMARK VIOLATION WARNING: This news story was first posted by American Banking News and is the property of of American Banking News. If you are viewing this news story on another site, it was copied illegally and reposted in violation of international copyright & trademark law. The correct version of this news story can be read at https://www.americanbankingnews.com/2017/09/21/corrections-corp-of-america-cxw-raised-to-buy-at-zacks-investment-research-2.html.

In other Corrections Corp. of America news, Director Thurgood Marshall, Jr. sold 2,360 shares of Corrections Corp. of America stock in a transaction on Friday, September 15th. The shares were sold at an average price of $25.90, for a total value of $61,124.00. Following the completion of the transaction, the director now directly owns 31,083 shares of the company’s stock, valued at approximately $805,049.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David Garfinkle sold 10,000 shares of Corrections Corp. of America stock in a transaction on Friday, September 15th. The stock was sold at an average price of $25.90, for a total transaction of $259,000.00. Following the completion of the transaction, the chief financial officer now directly owns 90,114 shares of the company’s stock, valued at $2,333,952.60. The disclosure for this sale can be found here. Insiders sold a total of 17,360 shares of company stock valued at $451,474 over the last three months. Corporate insiders own 1.30% of the company’s stock.

Several large investors have recently modified their holdings of CXW. BlackRock Inc. boosted its stake 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 purchasing an additional 10,688,902 shares during the period. FMR LLC boosted its stake 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 purchasing an additional 3,713,585 shares during the period. State Street Corp purchased a new position in shares of Corrections Corp. of America during the 1st quarter worth about $100,342,000. Daiwa Securities Group Inc. boosted its stake 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 purchasing an additional 1,170,205 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Corrections Corp. of America during the 1st quarter worth about $30,512,000. 86.18% of the stock is 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.

Get a free copy of the Zacks research report on Corrections Corp. of America (CXW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Corrections Corp. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corrections Corp. of America and related companies with MarketBeat.com's FREE daily email newsletter.