Corrections Corp. of America (CXW) Receives Average Recommendation of “Hold” from Analysts

Shares of Corrections Corp. of America (NYSE:CXW) have earned a consensus rating of “Hold” from the eight analysts that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $36.00.

CXW has been the subject of a number of analyst reports. Zacks Investment Research upgraded Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Friday, August 4th. SunTrust Banks restated a “buy” rating and set a $37.00 price target on shares of Corrections Corp. of America in a research note on Monday, October 2nd. ValuEngine lowered Corrections Corp. of America from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Deutsche Bank cut their target price on Corrections Corp. of America from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, August 8th.

In related news, Director Thurgood Marshall, Jr. sold 2,360 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $25.90, for a total transaction of $61,124.00. Following the completion of the sale, the director now directly owns 31,083 shares in the company, valued at $805,049.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David Garfinkle sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $25.90, for a total value of $259,000.00. Following the sale, the chief financial officer now 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 22,360 shares of company stock valued at $580,224 over the last 90 days. Company insiders own 1.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in CXW. Advisory Services Network LLC increased its holdings in Corrections Corp. of America by 115.0% during the 2nd quarter. Advisory Services Network LLC now owns 4,093 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 2,189 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Corrections Corp. of America by 11.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,266 shares of the real estate investment trust’s stock worth $118,000 after acquiring an additional 452 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its position in Corrections Corp. of America by 152.7% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,818 shares of the real estate investment trust’s stock worth $156,000 after acquiring an additional 3,516 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in Corrections Corp. of America by 8.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 8,272 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 629 shares during the period. Finally, Stevens Capital Management LP acquired a new stake in Corrections Corp. of America during the 2nd quarter worth approximately $228,000. 83.15% of the stock is currently owned by institutional investors and hedge funds.

Shares of Corrections Corp. of America (NYSE CXW) traded up $0.16 during trading on Friday, reaching $23.51. 1,239,300 shares of the company’s stock were exchanged, compared to its average volume of 1,027,585. 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 stock has a market cap of $2,780.00, a P/E ratio of 9.41, a P/E/G ratio of 1.68 and a beta of 0.91. Corrections Corp. of America has a fifty-two week low of $21.90 and a fifty-two week high of $35.33.

Corrections Corp. of America (NYSE:CXW) last issued its quarterly earnings data on Wednesday, November 8th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.02. The business had revenue of $442.80 million for the quarter, compared to the consensus estimate of $437.18 million. Corrections Corp. of America had a net margin of 11.03% and a return on equity of 13.54%. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.69 EPS. sell-side analysts expect that Corrections Corp. of America will post 2.33 EPS for the current fiscal year.

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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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