Brokerages Set Iron Mountain Inc. (IRM) Price Target at $45.33
Iron Mountain Inc. (NYSE:IRM) has received a consensus recommendation of “Hold” from the seven analysts that are covering the company. Four research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $45.33.
A number of analysts have recently commented on IRM shares. Stifel Nicolaus restated a “buy” rating and set a $44.00 price objective on shares of Iron Mountain in a report on Tuesday, September 13th. TheStreet downgraded Iron Mountain from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Zacks Investment Research downgraded Iron Mountain from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, JPMorgan Chase & Co. increased their price target on Iron Mountain from $42.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, August 5th.
Shares of Iron Mountain (NYSE:IRM) opened at 31.55 on Tuesday. The firm’s 50-day moving average price is $34.38 and its 200-day moving average price is $37.13. Iron Mountain has a one year low of $23.64 and a one year high of $41.50. The stock has a market capitalization of $8.31 billion, a P/E ratio of 119.51 and a beta of 0.95.
Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. The business earned $943 million during the quarter, compared to the consensus estimate of $933.49 million. Iron Mountain had a return on equity of 19.82% and a net margin of 1.90%. The business’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 EPS. Equities research analysts anticipate that Iron Mountain will post $1.88 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, December 13th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.49. This represents a $2.20 annualized dividend and a dividend yield of 6.97%. Iron Mountain’s dividend payout ratio (DPR) is currently 646.67%.
In other news, VP Edward Bicks sold 2,773 shares of the firm’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $36.32, for a total transaction of $100,715.36. Following the completion of the sale, the vice president now directly owns 914 shares in the company, valued at $33,196.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Walter C. Rakowich sold 1,466 shares of the firm’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $36.32, for a total value of $53,245.12. Following the sale, the director now owns 7,130 shares of the company’s stock, valued at $258,961.60. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Henderson Group PLC increased its stake in shares of Iron Mountain by 2.0% in the second quarter. Henderson Group PLC now owns 2,224,211 shares of the company’s stock valued at $88,579,000 after buying an additional 43,703 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Iron Mountain by 2.4% in the first quarter. Geode Capital Management LLC now owns 1,612,917 shares of the company’s stock valued at $54,584,000 after buying an additional 37,165 shares in the last quarter. Resolution Capital Ltd acquired a new stake in shares of Iron Mountain during the second quarter valued at $15,807,000. Confluence Investment Management LLC increased its stake in shares of Iron Mountain by 6.0% in the second quarter. Confluence Investment Management LLC now owns 1,597,282 shares of the company’s stock valued at $63,620,000 after buying an additional 89,949 shares in the last quarter. Finally, New York State Teachers Retirement System increased its stake in shares of Iron Mountain by 1.3% in the second quarter. New York State Teachers Retirement System now owns 344,095 shares of the company’s stock valued at $13,705,000 after buying an additional 4,375 shares in the last quarter. Institutional investors own 81.11% of the company’s stock.
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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