Iron Mountain Incorporated (IRM) Receives Average Recommendation of “Hold” from Analysts
Shares of Iron Mountain Incorporated (NYSE:IRM) have received a consensus recommendation of “Hold” from the five research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $35.00.
A number of analysts recently commented on the company. BidaskClub upgraded Iron Mountain from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Zacks Investment Research upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Stifel Nicolaus restated a “buy” rating and issued a $40.00 target price on shares of Iron Mountain in a research note on Friday, June 9th. Finally, Deutsche Bank AG lowered Iron Mountain from a “hold” rating to a “sell” rating and lowered their target price for the company from $41.00 to $30.00 in a research note on Wednesday, June 7th.
In related news, Director Walter C. Rakowich sold 1,552 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $35.15, for a total transaction of $54,552.80. Following the completion of the transaction, the director now directly owns 15,074 shares in the company, valued at $529,851.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Eileen Sweeney sold 2,100 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $35.14, for a total value of $73,794.00. Following the transaction, the senior vice president now owns 2,104 shares of the company’s stock, valued at $73,934.56. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Iron Mountain by 3,761.9% in the first quarter. BlackRock Inc. now owns 18,027,691 shares of the financial services provider’s stock valued at $643,048,000 after buying an additional 17,560,886 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Iron Mountain by 180.0% in the first quarter. JPMorgan Chase & Co. now owns 1,490,008 shares of the financial services provider’s stock valued at $53,149,000 after buying an additional 957,896 shares during the period. Victory Capital Management Inc. raised its stake in shares of Iron Mountain by 245.0% in the first quarter. Victory Capital Management Inc. now owns 1,308,918 shares of the financial services provider’s stock valued at $46,689,000 after buying an additional 929,555 shares during the period. Vanguard Group Inc. raised its stake in shares of Iron Mountain by 2.1% in the first quarter. Vanguard Group Inc. now owns 43,247,671 shares of the financial services provider’s stock valued at $1,542,644,000 after buying an additional 893,442 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Iron Mountain by 27.3% in the first quarter. Bank of America Corp DE now owns 4,029,077 shares of the financial services provider’s stock valued at $143,718,000 after buying an additional 864,016 shares during the period. 86.04% of the stock is owned by hedge funds and other institutional investors.
Iron Mountain (NYSE IRM) opened at 37.18 on Friday. The company has a market cap of $9.83 billion, a price-to-earnings ratio of 51.00 and a beta of 0.94. The stock’s 50 day moving average is $34.84 and its 200 day moving average is $35.28. Iron Mountain has a 52-week low of $30.75 and a 52-week high of $39.75.
Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Friday, July 28th. The financial services provider reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03. The business had revenue of $950 million for the quarter, compared to analyst estimates of $955.05 million. Iron Mountain had a return on equity of 14.46% and a net margin of 5.14%. Iron Mountain’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the company posted $0.24 earnings per share. On average, analysts predict that Iron Mountain will post $1.18 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 5.92%. The ex-dividend date is Thursday, September 14th. Iron Mountain’s dividend payout ratio (DPR) is presently 297.30%.
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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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