Iron Mountain (IRM) Rating Lowered to Sell at ValuEngine

Iron Mountain (NYSE:IRM) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Thursday.

A number of other research analysts have also recently issued reports on IRM. Zacks Investment Research upgraded shares of Iron Mountain from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Tuesday, April 24th. Stifel Nicolaus cut their target price on shares of Iron Mountain from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. Finally, Goldman Sachs started coverage on shares of Iron Mountain in a research report on Tuesday, March 27th. They issued a “buy” rating and a $41.00 price objective for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Iron Mountain has a consensus rating of “Hold” and a consensus price target of $39.33.

Shares of Iron Mountain traded down $0.57, reaching $32.05, during trading on Thursday, Marketbeat reports. The stock had a trading volume of 1,206,633 shares, compared to its average volume of 1,859,362. Iron Mountain has a 52 week low of $32.72 and a 52 week high of $33.18. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 3.55. The stock has a market capitalization of $9.36 billion, a P/E ratio of 15.05 and a beta of 0.81.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, April 26th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Iron Mountain had a net margin of 4.31% and a return on equity of 14.96%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. Iron Mountain’s quarterly revenue was up 10.8% compared to the same quarter last year. analysts forecast that Iron Mountain will post 2.08 EPS for the current fiscal year.

In related news, insider William L. Meaney sold 24,137 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $32.08, for a total value of $774,314.96. Following the completion of the transaction, the insider now owns 93,587 shares in the company, valued at approximately $3,002,270.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alfred J. Verrecchia acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average price of $32.49 per share, with a total value of $162,450.00. The disclosure for this purchase can be found here. Insiders sold a total of 35,197 shares of company stock valued at $1,152,896 in the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Gables Capital Management Inc. bought a new position in Iron Mountain in the 1st quarter worth approximately $911,000. Legal & General Group Plc raised its position in shares of Iron Mountain by 3.3% during the 1st quarter. Legal & General Group Plc now owns 1,335,454 shares of the financial services provider’s stock valued at $43,883,000 after acquiring an additional 42,701 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Iron Mountain during the 1st quarter valued at $21,996,000. WealthPLAN Partners LLC bought a new stake in shares of Iron Mountain during the 1st quarter valued at $215,000. Finally, Amundi Pioneer Asset Management Inc. raised its position in shares of Iron Mountain by 50.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 289,937 shares of the financial services provider’s stock valued at $9,527,000 after acquiring an additional 96,778 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Iron Mountain Company Profile

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 over 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Iron Mountain (NYSE:IRM)

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