Iron Mountain Incorporated (NYSE:IRM) had its target price increased by stock analysts at Robert W. Baird from $39.00 to $43.00 in a research note issued to investors on Wednesday, October 25th. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Robert W. Baird’s price objective indicates a potential upside of 5.76% from the company’s current price.
A number of other research firms have also issued reports on IRM. Stifel Nicolaus reaffirmed a “buy” rating and issued a $43.00 price target (up previously from $40.00) on shares of Iron Mountain in a research report on Friday, October 20th. Evercore ISI assumed coverage on Iron Mountain in a research report on Wednesday, October 18th. They set an “outperform” rating and a $46.00 target price on the stock. Zacks Investment Research lowered Iron Mountain from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Finally, BidaskClub raised Iron Mountain from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $41.20.
Shares of Iron Mountain (IRM) opened at $40.66 on Wednesday. The company has a debt-to-equity ratio of 3.59, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $10,845.66, a PE ratio of 19.53, a price-to-earnings-growth ratio of 6.34 and a beta of 1.02. Iron Mountain has a 12-month low of $30.75 and a 12-month high of $41.17.
Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The company had revenue of $966.00 million for the quarter, compared to analyst estimates of $960.99 million. Iron Mountain had a return on equity of 15.49% and a net margin of 5.54%. Iron Mountain’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 EPS. equities research analysts expect that Iron Mountain will post 2.14 earnings per share for the current fiscal year.
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In other Iron Mountain news, VP Patrick J. Keddy sold 23,428 shares of Iron Mountain stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $39.04, for a total transaction of $914,629.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Theodore Maclean sold 1,500 shares of Iron Mountain stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $38.13, for a total value of $57,195.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,879 shares of company stock worth $1,850,341. 1.50% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Iron Mountain by 0.3% during the second quarter. Vanguard Group Inc. now owns 43,398,710 shares of the financial services provider’s stock worth $1,491,180,000 after buying an additional 151,039 shares during the period. BlackRock Inc. increased its position in Iron Mountain by 5.0% during the second quarter. BlackRock Inc. now owns 18,924,442 shares of the financial services provider’s stock worth $650,244,000 after buying an additional 896,751 shares during the period. Parnassus Investments CA increased its position in Iron Mountain by 1.0% during the third quarter. Parnassus Investments CA now owns 12,497,627 shares of the financial services provider’s stock worth $486,158,000 after buying an additional 122,980 shares during the period. Bank of New York Mellon Corp increased its position in Iron Mountain by 25.2% during the third quarter. Bank of New York Mellon Corp now owns 3,579,236 shares of the financial services provider’s stock worth $139,231,000 after buying an additional 720,270 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Iron Mountain by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,530,435 shares of the financial services provider’s stock worth $121,305,000 after buying an additional 124,704 shares during the period. 87.30% of the stock is currently owned by institutional investors.
About Iron Mountain
Iron Mountain Incorporated (Iron Mountain) is engaged in storing records, primarily paper documents and data backup media, and provide information management services. The Company offers records management services, data protection and recovery services and information destruction services. Its information management services are divided into three categories: records management services, data protection and recovery services, and information destruction services.
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