BidaskClub upgraded shares of Iron Mountain Incorporated (NYSE:IRM) from a buy rating to a strong-buy rating in a research report released on Saturday.
Other equities research analysts have also issued reports about the company. Stifel Nicolaus reiterated a buy rating and issued a $40.00 price objective on shares of Iron Mountain in a research note on Friday, June 9th. Zacks Investment Research upgraded Iron Mountain from a sell rating to a hold rating in a research note on Tuesday, August 1st. Finally, Deutsche Bank AG lowered Iron Mountain from a hold rating to a sell rating and lowered their price objective for the company from $41.00 to $30.00 in a research note on Wednesday, June 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Iron Mountain presently has a consensus rating of Hold and an average target price of $36.50.
Shares of Iron Mountain (IRM) traded down 0.16% during midday trading on Friday, reaching $38.47. The company’s stock had a trading volume of 947,599 shares. The firm has a market capitalization of $10.17 billion, a PE ratio of 52.77 and a beta of 0.94. Iron Mountain has a 1-year low of $30.75 and a 1-year high of $39.75. The company’s 50-day moving average price is $36.17 and its 200 day moving average price is $35.51.
Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Friday, July 28th. The financial services provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. Iron Mountain had a return on equity of 14.46% and a net margin of 5.14%. The company had revenue of $950 million for the quarter, compared to analyst estimates of $955.05 million. During the same period in the prior year, the company posted $0.24 EPS. The company’s revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts forecast that Iron Mountain will post $1.18 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.20 dividend on an annualized basis and a yield of 5.72%. Iron Mountain’s dividend payout ratio (DPR) is presently 297.30%.
In related news, Director Walter C. Rakowich sold 1,552 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $35.15, for a total transaction of $54,552.80. Following the sale, the director now directly owns 15,074 shares in the company, valued at approximately $529,851.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP John Tomovcsik sold 29,450 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $38.00, for a total value of $1,119,100.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,102 shares of company stock worth $1,247,447. 1.50% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Iron Mountain by 3,761.9% in the first quarter. BlackRock Inc. now owns 18,027,691 shares of the financial services provider’s stock worth $643,048,000 after buying an additional 17,560,886 shares during the period. JPMorgan Chase & Co. raised its stake in Iron Mountain by 180.0% in the first quarter. JPMorgan Chase & Co. now owns 1,490,008 shares of the financial services provider’s stock worth $53,149,000 after buying an additional 957,896 shares during the period. Victory Capital Management Inc. raised its stake in Iron Mountain by 245.0% in the first quarter. Victory Capital Management Inc. now owns 1,308,918 shares of the financial services provider’s stock worth $46,689,000 after buying an additional 929,555 shares during the period. Vanguard Group Inc. raised its stake in Iron Mountain by 2.1% in the first quarter. Vanguard Group Inc. now owns 43,247,671 shares of the financial services provider’s stock worth $1,542,644,000 after buying an additional 893,442 shares during the period. Finally, Bank of America Corp DE raised its stake in Iron Mountain by 27.3% in the first quarter. Bank of America Corp DE now owns 4,029,077 shares of the financial services provider’s stock worth $143,718,000 after buying an additional 864,016 shares during the period. Institutional investors and hedge funds own 85.97% of the company’s stock.
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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