Credit Suisse Group reissued their sell rating on shares of Iron Mountain (NYSE:IRM) in a research note issued to investors on Thursday, AnalystRatings.com reports. The brokerage currently has a $21.00 price target on the financial services provider’s stock.
Several other research analysts also recently commented on the company. TheStreet raised Iron Mountain from a c+ rating to a b- rating in a research note on Monday, September 9th. Wells Fargo & Co initiated coverage on Iron Mountain in a research note on Wednesday, July 10th. They issued an outperform rating and a $31.60 price objective on the stock. Bank of America downgraded Iron Mountain from a neutral rating to an underperform rating and decreased their price objective for the stock from $33.00 to $25.00 in a research note on Thursday, July 11th. Robert W. Baird raised Iron Mountain from an underperform rating to a neutral rating and raised their price objective for the stock from $27.00 to $29.00 in a research note on Friday, August 2nd. Finally, ValuEngine raised Iron Mountain from a sell rating to a hold rating in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $33.51.
IRM stock opened at $32.55 on Thursday. Iron Mountain has a fifty-two week low of $29.28 and a fifty-two week high of $37.32. The business’s 50-day moving average is $31.46 and its two-hundred day moving average is $32.64. The company has a debt-to-equity ratio of 6.06, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market cap of $9.80 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 3.97 and a beta of 0.54.
Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Iron Mountain had a return on equity of 19.65% and a net margin of 8.18%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company earned $0.30 earnings per share. Iron Mountain’s revenue was up .6% on a year-over-year basis. Equities analysts predict that Iron Mountain will post 2.26 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Monday, September 16th will be paid a $0.611 dividend. This represents a $2.44 annualized dividend and a dividend yield of 7.51%. The ex-dividend date is Friday, September 13th. Iron Mountain’s dividend payout ratio (DPR) is currently 106.09%.
In related news, EVP Patrick J. Keddy sold 6,000 shares of Iron Mountain stock in a transaction that occurred 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 sale, the executive vice president now owns 24,114 shares of the company’s stock, valued at approximately $795,762. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of IRM. Mcmillion Capital Management Inc. bought a new stake in Iron Mountain during the 2nd quarter valued at approximately $31,000. Prime Capital Investment Advisors LLC bought a new stake in Iron Mountain during the 2nd quarter valued at approximately $31,000. Valeo Financial Advisors LLC raised its stake in Iron Mountain by 194.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,062 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 701 shares during the period. Bremer Bank National Association bought a new stake in Iron Mountain during the 1st quarter valued at approximately $36,000. Finally, Thor Advisors LLC bought a new stake in Iron Mountain during the 1st quarter valued at approximately $38,000. 85.97% of the stock is currently owned by 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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