Credit Suisse Group reaffirmed their sell rating on shares of Iron Mountain (NYSE:IRM) in a research note issued to investors on Thursday, AnalystRatings.com reports. The firm currently has a $21.00 price target on the financial services provider’s stock.
Several other equities research analysts have also commented on the stock. TheStreet upgraded shares of Iron Mountain from a c+ rating to a b- rating in a research note on Monday. Wells Fargo & Co assumed coverage on shares of Iron Mountain in a research note on Wednesday, July 10th. They issued an outperform rating and a $31.60 price objective for the company. Robert W. Baird upgraded shares of Iron Mountain from an underperform rating to a neutral rating and increased their price objective for the company from $27.00 to $29.00 in a research note on Friday, August 2nd. ValuEngine upgraded shares of Iron Mountain from a sell rating to a hold rating in a research note on Thursday, September 5th. Finally, Bank of America lowered shares of Iron Mountain from a neutral rating to an underperform rating and decreased their price objective for the company from $33.00 to $25.00 in a research note on Thursday, July 11th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $33.51.
Shares of IRM traded down $1.59 on Thursday, reaching $32.55. The company’s stock had a trading volume of 3,600,183 shares, compared to its average volume of 2,492,678. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 6.06. Iron Mountain has a twelve month low of $29.28 and a twelve month high of $37.32. The stock has a market capitalization of $9.80 billion, a PE ratio of 14.15, a PEG ratio of 3.90 and a beta of 0.54. The firm has a fifty day moving average of $31.42 and a 200-day moving average of $32.65.
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 company 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%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 EPS. As a group, equities analysts anticipate that Iron Mountain will post 2.26 EPS 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 paid a dividend of $0.611 per share. The ex-dividend date is Friday, September 13th. This represents a $2.44 annualized dividend and a dividend yield of 7.51%. Iron Mountain’s payout ratio is currently 106.09%.
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 sale, the executive vice president now owns 24,114 shares in the company, valued at approximately $795,762. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Wedbush Securities Inc. bought a new position in Iron Mountain in the 2nd quarter worth approximately $227,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Iron Mountain by 37.1% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 147,070 shares of the financial services provider’s stock valued at $4,603,000 after purchasing an additional 39,800 shares during the period. Diamant Asset Management Inc. boosted its holdings in Iron Mountain by 3.5% in the 2nd quarter. Diamant Asset Management Inc. now owns 17,650 shares of the financial services provider’s stock valued at $552,000 after purchasing an additional 600 shares during the period. Redwood Investment Management LLC bought a new position in Iron Mountain in the 1st quarter valued at $272,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Iron Mountain by 17.5% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 104,537 shares of the financial services provider’s stock valued at $3,272,000 after purchasing an additional 15,538 shares during the period. Institutional investors own 85.93% of the company’s stock.
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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