Corrections Corp. of America (NYSE:CXW) Lowered to Hold at ValuEngine

Corrections Corp. of America (NYSE:CXW) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, November 22nd.

A number of other research analysts have also issued reports on the stock. SunTrust Banks restated a “buy” rating and issued a $37.00 target price on shares of Corrections Corp. of America in a report on Friday, November 10th. Zacks Investment Research lowered shares of Corrections Corp. of America from a “hold” rating to a “sell” rating in a report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $33.50.

Shares of Corrections Corp. of America (NYSE CXW) opened at $23.15 on Wednesday. The company has a market cap of $2,743.52, a price-to-earnings ratio of 9.32, a P/E/G ratio of 1.66 and a beta of 0.88. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.10 and a quick ratio of 1.10. Corrections Corp. of America has a 12-month low of $22.67 and a 12-month high of $35.33.

Corrections Corp. of America (NYSE:CXW) last announced its quarterly earnings data on Wednesday, November 8th. The real estate investment trust reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.02. The company had revenue of $442.80 million during 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%. Corrections Corp. of America’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 EPS. equities analysts forecast that Corrections Corp. of America will post 2.34 earnings per share for the current year.

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 owns 31,083 shares of the company’s stock, valued at $805,049.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO David Garfinkle sold 10,000 shares of Corrections Corp. of America stock in a transaction on Monday, October 16th. The stock was sold at an average price of $26.01, for a total transaction of $260,100.00. The disclosure for this sale can be found here. Insiders have sold 22,360 shares of company stock valued at $580,224 in the last three months. Corporate insiders own 1.30% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Teachers Advisors LLC raised its position in Corrections Corp. of America by 29.3% in the first quarter. Teachers Advisors LLC now owns 319,500 shares of the real estate investment trust’s stock worth $10,039,000 after acquiring an additional 72,315 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Corrections Corp. of America by 8.4% in the first quarter. Dimensional Fund Advisors LP now owns 14,787 shares of the real estate investment trust’s stock worth $464,000 after acquiring an additional 1,152 shares in the last quarter. Capstone Asset Management Co. raised its position in Corrections Corp. of America by 3.5% in the second quarter. Capstone Asset Management Co. now owns 12,876 shares of the real estate investment trust’s stock worth $355,000 after acquiring an additional 430 shares in the last quarter. Bank of Montreal Can raised its position in Corrections Corp. of America by 34.8% in the second quarter. Bank of Montreal Can now owns 100,959 shares of the real estate investment trust’s stock worth $2,784,000 after acquiring an additional 26,078 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new stake in Corrections Corp. of America in the second quarter worth about $173,000. Institutional investors own 83.20% of the company’s stock.

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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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