BidaskClub upgraded shares of Iron Mountain Incorporated (NYSE:IRM) from a buy rating to a strong-buy rating in a report published on Saturday morning.

Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus reiterated a buy rating and set a $40.00 price objective on shares of Iron Mountain in a report on Friday, June 9th. Zacks Investment Research upgraded shares of Iron Mountain from a sell rating to a hold rating in a report on Tuesday, August 1st. Finally, Deutsche Bank AG lowered shares of Iron Mountain from a hold rating to a sell rating and decreased their price objective for the company from $41.00 to $30.00 in a report on Wednesday, June 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $36.50.

Shares of Iron Mountain (NYSE:IRM) opened at 39.06 on Friday. Iron Mountain has a one year low of $30.75 and a one year high of $39.75. The firm’s 50-day moving average price is $36.17 and its 200-day moving average price is $35.51. The firm has a market capitalization of $10.33 billion, a P/E ratio of 53.58 and a beta of 0.94.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Friday, July 28th. The financial services provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. Iron Mountain had a net margin of 5.14% and a return on equity of 14.46%. The company had revenue of $950 million during the quarter, compared to analyst estimates of $955.05 million. During the same quarter last year, the business posted $0.24 EPS. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities analysts forecast that Iron Mountain will post $1.18 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a $0.55 dividend. The ex-dividend date is Thursday, September 14th. This represents a $2.20 annualized dividend and a dividend yield of 5.63%. Iron Mountain’s dividend payout ratio is currently 297.30%.

In other news, EVP John Tomovcsik sold 29,450 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $38.00, for a total value of $1,119,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Eileen Sweeney sold 2,100 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $35.14, for a total transaction of $73,794.00. Following the completion of the sale, the senior vice president now owns 2,104 shares of the company’s stock, valued at approximately $73,934.56. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Several large investors have recently bought and sold shares of IRM. JPMorgan Chase & Co. raised its stake in 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 in the last quarter. Clinton Group Inc. acquired a new stake in Iron Mountain during the first quarter valued at approximately $1,477,000. Oregon Public Employees Retirement Fund raised its stake in Iron Mountain by 1.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 113,536 shares of the financial services provider’s stock valued at $4,050,000 after buying an additional 1,400 shares in the last quarter. LS Investment Advisors LLC raised its stake in Iron Mountain by 12.9% in the first quarter. LS Investment Advisors LLC now owns 10,085 shares of the financial services provider’s stock valued at $360,000 after buying an additional 1,156 shares in the last quarter. Finally, Webster Bank N. A. raised its stake in Iron Mountain by 57.4% in the second quarter. Webster Bank N. A. now owns 31,661 shares of the financial services provider’s stock valued at $1,088,000 after buying an additional 11,548 shares in the last quarter. Institutional investors and hedge funds own 87.47% 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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