Shares of Iron Mountain Inc (NYSE:IRM) have been given a consensus rating of “Hold” by the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $34.94.
A number of analysts recently weighed in on the stock. Bank of America lowered shares of Iron Mountain from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $33.00 to $25.00 in a report on Thursday, July 11th. Zacks Investment Research lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Robert W. Baird raised shares of Iron Mountain from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $27.00 to $29.00 in a report on Friday, August 2nd. Wells Fargo & Co initiated coverage on shares of Iron Mountain in a report on Wednesday, July 10th. They issued an “outperform” rating and a $31.60 price target on the stock. Finally, TheStreet lowered shares of Iron Mountain from a “b-” rating to a “c+” rating in a report on Tuesday, May 14th.
Iron Mountain stock traded up $0.38 during midday trading on Wednesday, reaching $31.76. 15,023 shares of the stock were exchanged, compared to its average volume of 2,755,376. The company’s fifty day moving average is $30.79 and its 200-day moving average is $33.07. 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 firm has a market cap of $9.01 billion, a PE ratio of 13.80, a PEG ratio of 3.66 and a beta of 0.59. Iron Mountain has a 52 week low of $29.28 and a 52 week high of $37.32.
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, topping the Zacks’ consensus estimate of $0.51 by $0.03. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates 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 was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 EPS. On average, sell-side analysts anticipate that Iron Mountain will post 2.26 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Monday, September 16th will be issued a $0.611 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 7.70%. The ex-dividend date is Friday, September 13th. Iron Mountain’s payout ratio is 106.09%.
In other news, Director Walter C. Rakowich sold 2,024 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $31.47, for a total value of $63,695.28. Following the transaction, the director now owns 23,360 shares of the company’s stock, valued at approximately $735,139.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in IRM. Phocas Financial Corp. purchased a new stake in Iron Mountain during the 2nd quarter valued at $211,000. Mcmillion Capital Management Inc. purchased a new stake in Iron Mountain during the 2nd quarter valued at $31,000. Prime Capital Investment Advisors LLC purchased a new stake in Iron Mountain during the 2nd quarter valued at $31,000. Executive Wealth Management LLC boosted its position in Iron Mountain by 96.9% during the 1st quarter. Executive Wealth Management LLC now owns 1,014 shares of the financial services provider’s stock valued at $36,000 after buying an additional 499 shares during the period. Finally, Secrest Blakey & Associates LLC purchased a new stake in Iron Mountain during the 1st quarter valued at $37,000. 87.64% of the stock is 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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