Iron Mountain Incorporated (NYSE:IRM) has received a consensus rating of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $38.75.
A number of research firms recently issued reports on IRM. Zacks Investment Research lowered Iron Mountain from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Evercore ISI began coverage on Iron Mountain in a report on Wednesday. They issued an “outperform” rating and a $46.00 target price for the company. Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 target price on shares of Iron Mountain in a report on Sunday, September 3rd. BidaskClub lowered Iron Mountain from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, Robert W. Baird set a $39.00 price target on Iron Mountain and gave the stock a “hold” rating in a report on Friday, August 25th.
Shares of Iron Mountain (NYSE:IRM) traded up 2.132% during midday trading on Friday, hitting $40.965. The company had a trading volume of 1,266,361 shares. The firm has a market capitalization of $10.83 billion, a PE ratio of 56.193 and a beta of 0.91. The company has a 50-day moving average of $39.37 and a 200 day moving average of $36.37. Iron Mountain has a 12 month low of $30.75 and a 12 month high of $41.08.
Iron Mountain (NYSE:IRM) last released its earnings results on Friday, July 28th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. The firm had revenue of $950.00 million during 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 revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business posted $0.24 earnings per share. On average, analysts expect that Iron Mountain will post $1.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 5.48%. The ex-dividend date of this dividend was Thursday, September 14th. Iron Mountain’s payout ratio is currently 297.30%.
In related news, VP Patrick J. Keddy sold 23,428 shares of the business’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $39.04, for a total value of $914,629.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Theodore Maclean sold 1,500 shares of the business’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $38.13, for a total value of $57,195.00. The disclosure for this sale can be found here. Insiders sold a total of 76,329 shares of company stock valued at $2,969,441 over the last three months. Company insiders own 1.50% of the company’s stock.
A number of hedge funds have recently modified their holdings of IRM. BlackRock Inc. increased its position in Iron Mountain by 5.0% in the 2nd quarter. BlackRock Inc. now owns 18,924,442 shares of the financial services provider’s stock valued at $650,244,000 after acquiring an additional 896,751 shares during the period. Janus Henderson Group PLC increased its position in Iron Mountain by 32.2% in the 2nd quarter. Janus Henderson Group PLC now owns 1,820,642 shares of the financial services provider’s stock valued at $62,566,000 after acquiring an additional 443,182 shares during the period. Koch Industries Inc. acquired a new position in Iron Mountain in the 2nd quarter valued at about $366,000. AXA increased its position in Iron Mountain by 250.3% in the 2nd quarter. AXA now owns 465,385 shares of the financial services provider’s stock valued at $15,991,000 after acquiring an additional 332,544 shares during the period. Finally, Makaira Partners LLC increased its position in Iron Mountain by 17.7% in the 2nd quarter. Makaira Partners LLC now owns 1,931,021 shares of the financial services provider’s stock valued at $66,350,000 after acquiring an additional 290,655 shares during the period. Hedge funds and other institutional investors own 87.49% of the company’s stock.
Iron Mountain Company Profile
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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