Deutsche Bank Initiates Coverage On Corrections Corp Of America to Buy with Price Target $38

Deutsche Bank Initiates Coverage On Corrections Corp Of America(CXW). In a research note issued to the investors, the brokerage major Announces the price-target to $38 per share. The shares have been rated Buy. The rating by the stock financial advisor at Deutsche Bank was issued on Feb 22, 2017 in a research report to their Investors and Clients.

In a different note, On Dec 12, 2016, Canaccord Genuity said it Upgrades its rating on Corrections Corp Of America. According to the research note, Canaccord Genuity Raises the price target to $28 per share from a prior target of $22. The shares have been rated ‘Buy’ by the firm.

Corrections Corp Of America (CXW) made into the market gainers list on Wednesdays trading session with the shares advancing 1.29% or 0.44 points. Due to strong positive momentum, the stock ended at $34.5, which is also near the day’s high of $34.82. The stock began the session at $34.68 and the volume stood at 17,07,800 shares. The 52-week high of the shares is $35.05 and the 52 week low is $12.99. The company has a current market capitalization of $4,056 M and it has 11,75,54,000 shares in outstanding.

Corrections Corp Of America(CXW) last announced its earnings results on Feb 8, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $464.134M. Analysts had an estimated revenue of $458.960M. Earnings per share were $0.72. Analysts had estimated an EPS of $0.43.

Several Insider Transactions has been reported to the SEC. On Feb 14, 2017, Harley G. Lappin (EVP, Chief Corrections Officer) sold 9,219 shares at $30.55 per share price.Also, On Feb 14, 2017, Damon T Hininger (President & CEO) sold 13,409 shares at $31.51 per share price.On Feb 14, 2017, David Garfinkle (EVP & Chief Financial Officer) sold 13,409 shares at $30.56 per share price, according to the Form-4 filing with the securities and exchange commission.

Corrections Corporation of America (CCA) is a real estate investment trust (REIT). The Company is engaged in owning operating and managing prisons and other correctional facilities and providing residential community re-entry and prisoner transportation services for governmental agencies. In addition to providing fundamental residential services the Company’s facilities offer a variety of rehabilitation and educational programs including basic education faith-based services life skills and employment training and substance abuse treatment. It also provides or makes available to offenders certain health care (including medical dental and mental health services) food services and work and recreational programs. The Company’s customers consist of federal state and local correctional and detention authorities. The Company also provides transportation services to governmental agencies through its wholly owned TRS TransCor America LLC (TransCor).

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