Iron Mountain Inc. (IRM) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Iron Mountain Inc. (NYSE:IRM) have been assigned a consensus rating of “Hold” from the seven analysts that are covering the stock. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $45.33.
Several brokerages have recently weighed in on IRM. Piper Jaffray Cos. reiterated a “buy” rating and set a $44.00 price objective on shares of Iron Mountain in a report on Friday, June 17th. Zacks Investment Research upgraded shares of Iron Mountain from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Tuesday, June 21st. JPMorgan Chase & Co. increased their price objective on shares of Iron Mountain from $42.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. TheStreet lowered shares of Iron Mountain from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $44.00 price objective on shares of Iron Mountain in a report on Tuesday, September 13th.
Shares of Iron Mountain (NYSE:IRM) traded up 0.03% on Tuesday, reaching $33.92. 952,199 shares of the company were exchanged. The company has a 50-day moving average price of $37.13 and a 200 day moving average price of $37.24. Iron Mountain has a 1-year low of $23.64 and a 1-year high of $41.50. The stock has a market capitalization of $8.93 billion, a PE ratio of 96.09 and a beta of 0.70.
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Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, August 4th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.05. The firm earned $883.70 million during the quarter, compared to analysts’ expectations of $884.46 million. Iron Mountain had a net margin of 2.51% and a return on equity of 26.91%. Iron Mountain’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter last year, the company posted $0.28 earnings per share. On average, analysts forecast that Iron Mountain will post $2.16 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 12th were given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date was Thursday, September 8th. Iron Mountain’s dividend payout ratio (DPR) is presently 510.54%.
In related news, Director Walter C. Rakowich sold 1,466 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $36.32, for a total transaction of $53,245.12. Following the completion of the sale, the director now owns 7,130 shares of the company’s stock, valued at approximately $258,961.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Edward Bicks sold 2,773 shares of the stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $36.32, for a total transaction of $100,715.36. Following the sale, the vice president now directly owns 914 shares of the company’s stock, valued at approximately $33,196.48. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of IRM. Vanguard Group Inc. increased its stake in Iron Mountain by 20.6% in the second quarter. Vanguard Group Inc. now owns 38,112,697 shares of the company’s stock worth $1,518,029,000 after buying an additional 6,510,415 shares during the period. State Street Corp increased its stake in Iron Mountain by 21.5% in the second quarter. State Street Corp now owns 10,111,107 shares of the company’s stock worth $402,723,000 after buying an additional 1,786,266 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Iron Mountain by 25.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 8,150,501 shares of the company’s stock worth $324,634,000 after buying an additional 1,666,166 shares during the period. BlackRock Fund Advisors increased its stake in Iron Mountain by 27.4% in the second quarter. BlackRock Fund Advisors now owns 5,139,632 shares of the company’s stock worth $204,712,000 after buying an additional 1,105,869 shares during the period. Finally, Makaira Partners LLC acquired a new stake in Iron Mountain during the first quarter worth about $104,016,000. 80.81% of the stock is owned by hedge funds and other institutional investors.
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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