Bank of America cut shares of Iron Mountain (NYSE:IRM) from a neutral rating to an underperform rating in a research note published on Thursday, BenzingaRatingsTable reports. Bank of America currently has $25.00 price objective on the financial services provider’s stock, down from their previous price objective of $33.00.
A number of other research analysts have also issued reports on the stock. Robert W. Baird set a $120.00 price objective on shares of BioMarin Pharmaceutical and gave the company a buy rating in a report on Friday, April 26th. Zacks Investment Research lowered shares of Guaranty Federal Bancshares from a hold rating to a sell rating in a report on Tuesday, April 23rd. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. TheStreet upgraded shares of Third Point Reinsurance from a d+ rating to a c- rating in a report on Tuesday, May 14th. Finally, Wells Fargo & Co raised their price target on shares of Apollo Global Management from $38.00 to $42.00 and gave the stock an outperform rating in a report on Wednesday. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $33.73.
Shares of NYSE IRM opened at $30.17 on Thursday. The firm has a 50 day simple moving average of $31.38. The company has a market cap of $8.66 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 3.40 and a beta of 0.61. Iron Mountain has a 1 year low of $29.44 and a 1 year high of $37.32. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 4.75.
Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.05). The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. Iron Mountain had a net margin of 8.22% and a return on equity of 19.61%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.48 EPS. Analysts predict that Iron Mountain will post 2.22 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Monday, June 17th were issued a dividend of $0.611 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.44 annualized dividend and a yield of 8.10%. Iron Mountain’s payout ratio is 106.09%.
In other Iron Mountain news, SVP Edward Bicks sold 2,922 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $36.55, for a total transaction of $106,799.10. Following the completion of the transaction, the senior vice president now owns 2,922 shares in the company, valued at approximately $106,799.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Walter C. Rakowich sold 2,024 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $31.47, for a total transaction of $63,695.28. Following the transaction, the director now owns 23,360 shares of the company’s stock, valued at approximately $735,139.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,602 shares of company stock valued at $2,038,718. Company insiders own 1.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Financial Advocates Investment Management increased its stake in shares of Iron Mountain by 178.3% in the 4th quarter. Financial Advocates Investment Management now owns 835 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 535 shares in the last quarter. Executive Wealth Management LLC increased its stake in shares of Iron Mountain by 96.9% in the 1st quarter. Executive Wealth Management LLC now owns 1,014 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 499 shares in the last quarter. Secrest Blakey & Associates LLC bought a new stake in shares of Iron Mountain in the 1st quarter valued at $37,000. Valeo Financial Advisors LLC increased its stake in shares of Iron Mountain by 194.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,062 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 701 shares in the last quarter. Finally, Thor Advisors LLC bought a new stake in shares of Iron Mountain in the 1st quarter valued at $38,000. Institutional investors own 88.04% of the company’s stock.
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.
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