Shares of Iron Mountain Inc (NYSE:IRM) have earned a consensus rating of “Hold” from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $30.51.
A number of research firms recently commented on IRM. Wells Fargo & Co began coverage on Iron Mountain in a research report on Wednesday, July 10th. They issued an “outperform” rating and a $31.60 price target for the company. Bank of America lowered Iron Mountain from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $33.00 to $25.00 in a research report on Thursday, July 11th. Robert W. Baird raised Iron Mountain from an “underperform” rating to a “neutral” rating and increased their price target for the company from $27.00 to $29.00 in a research report on Friday, August 2nd. TheStreet raised Iron Mountain from a “c+” rating to a “b-” rating in a research report on Monday, September 9th. Finally, Credit Suisse Group reissued a “sell” rating and issued a $21.00 price target on shares of Iron Mountain in a research report on Thursday, September 12th.
Shares of NYSE:IRM traded down $0.06 during trading on Thursday, reaching $32.24. 1,580,274 shares of the stock were exchanged, compared to its average volume of 2,427,562. The company has a debt-to-equity ratio of 6.06, a current ratio of 0.75 and a quick ratio of 0.75. Iron Mountain has a 1-year low of $29.28 and a 1-year high of $37.32. The stock has a fifty day moving average of $32.18 and a two-hundred day moving average of $32.22. The firm has a market cap of $9.27 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 3.74 and a beta of 0.55.
Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Iron Mountain had a return on equity of 19.65% and a net margin of 8.18%. Iron Mountain’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 EPS. Sell-side analysts forecast that Iron Mountain will post 2.27 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Monday, September 16th were given a dividend of $0.611 per share. This represents a $2.44 annualized dividend and a dividend yield of 7.58%. The ex-dividend date was Friday, September 13th. Iron Mountain’s dividend payout ratio is presently 106.09%.
In other news, EVP Patrick J. Keddy sold 6,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $33.00, for a total transaction of $198,000.00. Following the completion of the sale, the executive vice president now directly owns 24,114 shares of the company’s stock, valued at approximately $795,762. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in IRM. PNC Financial Services Group Inc. increased its position in shares of Iron Mountain by 16.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 65,924 shares of the financial services provider’s stock valued at $2,337,000 after purchasing an additional 9,480 shares during the last quarter. MML Investors Services LLC grew its stake in shares of Iron Mountain by 15.8% during the 1st quarter. MML Investors Services LLC now owns 34,261 shares of the financial services provider’s stock worth $1,215,000 after acquiring an additional 4,680 shares during the period. AlphaCrest Capital Management LLC bought a new position in shares of Iron Mountain during the 1st quarter worth $493,000. Northern Trust Corp grew its stake in shares of Iron Mountain by 1.0% during the 1st quarter. Northern Trust Corp now owns 3,417,034 shares of the financial services provider’s stock worth $121,169,000 after acquiring an additional 33,106 shares during the period. Finally, Tyers Asset Management LLC grew its stake in shares of Iron Mountain by 34.7% during the 1st quarter. Tyers Asset Management LLC now owns 30,118 shares of the financial services provider’s stock worth $1,068,000 after acquiring an additional 7,766 shares during the period. 85.97% of the stock is owned by hedge funds and other institutional investors.
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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