Iron Mountain (NYSE:IRM) Earns Outperform Rating from Analysts at Wells Fargo & Co

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Wells Fargo & Co assumed coverage on shares of Iron Mountain (NYSE:IRM) in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage issued an outperform rating and a $31.60 price target on the financial services provider’s stock.

IRM has been the subject of a number of other reports. ValuEngine cut Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Robert W. Baird set a $120.00 price objective on BioMarin Pharmaceutical and gave the stock a buy rating in a research note on Friday, April 26th. Zacks Investment Research cut Guaranty Federal Bancshares from a hold rating to a sell rating in a research note on Tuesday, April 23rd. Finally, TheStreet raised Third Point Reinsurance from a d+ rating to a c- rating in a research note on Tuesday, May 14th. Five analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $33.73.

NYSE IRM opened at $30.17 on Wednesday. The company has a fifty day moving average price of $31.38. The firm has a market cap of $8.51 billion, a PE ratio of 13.80, a P/E/G ratio of 3.34 and a beta of 0.61. Iron Mountain has a 52 week low of $29.44 and a 52 week high of $37.32. The company has a debt-to-equity ratio of 4.75, a current ratio of 0.80 and a quick ratio of 0.80.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, April 25th. The financial services provider reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.05). The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.06 billion. Iron Mountain had a net margin of 8.22% and a return on equity of 19.61%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the business posted $0.48 earnings per share. As a group, equities research analysts forecast that Iron Mountain will post 2.2 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Monday, June 17th were paid a dividend of $0.611 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 8.10%. Iron Mountain’s dividend payout ratio (DPR) is presently 106.09%.

In other Iron Mountain news, Director Walter C. Rakowich sold 2,024 shares of Iron Mountain stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $31.47, for a total transaction of $63,695.28. Following the transaction, the director now directly owns 23,360 shares in the company, valued at $735,139.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Stuart B. Brown sold 2,200 shares of Iron Mountain stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $31.65, for a total value of $69,630.00. Following the transaction, the chief financial officer now owns 18,525 shares in the company, valued at $586,316.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,602 shares of company stock valued at $2,038,718. 1.90% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in Iron Mountain by 0.7% during the first quarter. BlackRock Inc. now owns 20,271,523 shares of the financial services provider’s stock worth $718,826,000 after acquiring an additional 147,381 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Iron Mountain by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,127,799 shares of the financial services provider’s stock worth $133,783,000 after acquiring an additional 45,950 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Iron Mountain by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 3,915,200 shares of the financial services provider’s stock worth $126,683,000 after acquiring an additional 270,237 shares in the last quarter. Bank of America Corp DE lifted its holdings in Iron Mountain by 2.1% during the fourth quarter. Bank of America Corp DE now owns 3,755,714 shares of the financial services provider’s stock worth $121,723,000 after acquiring an additional 78,033 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Iron Mountain by 1.0% during the first quarter. Northern Trust Corp now owns 3,417,034 shares of the financial services provider’s stock worth $121,169,000 after acquiring an additional 33,106 shares in the last quarter. Hedge funds and other institutional investors own 88.04% of the company’s stock.

About Iron Mountain

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

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Analyst Recommendations for Iron Mountain (NYSE:IRM)

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