Iron Mountain Incorporated (IRM) Stock Rating Reaffirmed by Stifel Nicolaus
Iron Mountain Incorporated (NYSE:IRM)‘s stock had its “buy” rating restated by equities research analysts at Stifel Nicolaus in a research report issued to clients and investors on Friday, Marketbeat.com reports. They presently have a $43.00 price objective on the financial services provider’s stock, up from their prior price objective of $40.00. Stifel Nicolaus’ target price indicates a potential upside of 5.08% from the company’s previous close.
IRM has been the subject of several other reports. BidaskClub upgraded shares of Iron Mountain from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Zacks Investment Research cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Robert W. Baird set a $39.00 price objective on shares of Iron Mountain and gave the company a “hold” rating in a research note on Friday, August 25th. Finally, Evercore ISI initiated coverage on shares of Iron Mountain in a research note on Wednesday. They set an “outperform” rating and a $46.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $40.40.
Shares of Iron Mountain (NYSE IRM) traded down 0.10% during mid-day trading on Friday, reaching $40.92. 848,513 shares of the company’s stock were exchanged. The company has a market capitalization of $10.82 billion, a PE ratio of 56.13 and a beta of 0.91. Iron Mountain has a one year low of $30.75 and a one year high of $41.17. The company’s 50-day moving average price is $39.54 and its 200-day moving average price is $36.54.
Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Friday, July 28th. The financial services provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. Iron Mountain had a net margin of 5.14% and a return on equity of 14.46%. The business had revenue of $950.00 million during the quarter, compared to analysts’ expectations of $955.05 million. During the same period in the previous year, the business posted $0.24 EPS. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities analysts expect that Iron Mountain will post $1.18 earnings per share for the current year.
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In related news, VP Patrick J. Keddy sold 23,428 shares of the business’s stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $39.04, for a total value of $914,629.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John Tomovcsik sold 21,037 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $40.02, for a total transaction of $841,900.74. Following the completion of the transaction, the executive vice president now owns 62,379 shares of the company’s stock, valued at $2,496,407.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,329 shares of company stock valued at $2,969,441. Company insiders own 1.50% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning lifted its stake in shares of Iron Mountain by 4.6% in the 2nd quarter. Creative Planning now owns 3,049 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 134 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Iron Mountain by 8.8% in the 2nd quarter. Pacer Advisors Inc. now owns 3,985 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 322 shares during the period. CIBC World Markets Inc. acquired a new position in shares of Iron Mountain in the 2nd quarter valued at $203,000. Penserra Capital Management LLC lifted its stake in shares of Iron Mountain by 7.5% in the 2nd quarter. Penserra Capital Management LLC now owns 6,019 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 422 shares during the period. Finally, Bridgewater Associates LP acquired a new position in shares of Iron Mountain in the 2nd quarter valued at $207,000. 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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