Shares of Iron Mountain Inc (NYSE:IRM) have received a consensus recommendation of “Hold” from the eleven research firms that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $33.20.
Several brokerages have commented on IRM. ValuEngine downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Monday. TheStreet upgraded shares of Iron Mountain from a “c+” rating to a “b-” rating in a report on Monday, September 9th. Wells Fargo & Co began coverage on shares of Iron Mountain in a report on Wednesday, July 10th. They set an “outperform” rating and a $31.60 target price on the stock. Credit Suisse Group restated a “sell” rating and set a $21.00 target price on shares of Iron Mountain in a report on Thursday, September 12th. Finally, Bank of America downgraded shares of Iron Mountain from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $33.00 to $25.00 in a report on Thursday, July 11th.
In other news, EVP Patrick J. Keddy sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $33.00, for a total transaction of $198,000.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Iron Mountain by 9.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 81,389 shares of the financial services provider’s stock valued at $2,547,000 after buying an additional 6,729 shares in the last quarter. Atria Investments LLC bought a new position in shares of Iron Mountain in the second quarter valued at $1,115,000. BlackRock Inc. grew its stake in shares of Iron Mountain by 1.9% in the second quarter. BlackRock Inc. now owns 20,655,719 shares of the financial services provider’s stock valued at $646,523,000 after buying an additional 384,196 shares in the last quarter. Natixis grew its stake in shares of Iron Mountain by 109.5% in the second quarter. Natixis now owns 1,258,373 shares of the financial services provider’s stock valued at $39,387,000 after buying an additional 657,795 shares in the last quarter. Finally, WealthPLAN Partners LLC bought a new position in shares of Iron Mountain in the second quarter valued at $218,000. 85.97% of the stock is owned by institutional investors.
Shares of NYSE:IRM opened at $32.18 on Friday. The company has a market capitalization of $9.26 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 3.73 and a beta of 0.54. The firm’s 50 day simple moving average is $31.75 and its 200 day simple moving average is $32.55. 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 fifty-two week low of $29.28 and a fifty-two week high of $37.32.
Iron Mountain (NYSE:IRM) last announced its quarterly 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. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. Iron Mountain had a net margin of 8.18% and a return on equity of 19.65%. Iron Mountain’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the company posted $0.30 EPS. Equities research analysts expect that Iron Mountain will post 2.27 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Monday, September 16th will be paid a dividend of $0.611 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.44 annualized dividend and a dividend yield of 7.59%. Iron Mountain’s dividend payout ratio is currently 106.09%.
Iron Mountain Company Profile
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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