Iron Mountain Incorporated (IRM) Receives $41.50 Average Price Target from Brokerages

Iron Mountain Incorporated (NYSE:IRM) has been given an average recommendation of “Hold” by the six analysts that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $39.33.

Several equities research analysts have recently commented on IRM shares. TheStreet raised shares of Iron Mountain from a “c+” rating to a “b” rating in a research report on Thursday, February 23rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $40.00 target price on shares of Iron Mountain in a research report on Friday, June 9th. Deutsche Bank AG started coverage on shares of Iron Mountain in a research report on Wednesday, February 22nd. They issued a “hold” rating and a $39.00 target price for the company. BidaskClub cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Saturday, June 10th. Finally, Zacks Investment Research cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd.

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Shares of Iron Mountain (NYSE IRM) traded up 1.49% during midday trading on Friday, reaching $34.72. 742,678 shares of the company’s stock traded hands. The firm has a market cap of $9.17 billion, a PE ratio of 91.37 and a beta of 1.01. Iron Mountain has a 12 month low of $30.75 and a 12 month high of $41.50. The stock has a 50-day moving average price of $34.74 and a 200 day moving average price of $34.88.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by $0.03. Iron Mountain had a return on equity of 12.74% and a net margin of 2.75%. The firm had revenue of $939 million during the quarter, compared to the consensus estimate of $928.62 million. During the same period last year, the business earned $0.51 EPS. Iron Mountain’s revenue was up 25.0% on a year-over-year basis. Equities research analysts predict that Iron Mountain will post $1.19 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Thursday, June 15th will be issued a $0.55 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $2.20 annualized dividend and a yield of 6.34%. Iron Mountain’s dividend payout ratio (DPR) is presently 578.96%.

In other news, Director Walter C. Rakowich sold 1,552 shares of Iron Mountain stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $35.15, for a total value of $54,552.80. Following the completion of the sale, the director now directly owns 15,074 shares in the company, valued at $529,851.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eileen Sweeney sold 2,100 shares of Iron Mountain stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $35.14, for a total transaction of $73,794.00. Following the completion of the sale, the senior vice president now owns 2,104 shares of the company’s stock, valued at $73,934.56. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Tredje AP fonden raised its stake in shares of Iron Mountain by 36.4% in the fourth quarter. Tredje AP fonden now owns 40,017 shares of the financial services provider’s stock valued at $1,300,000 after buying an additional 10,677 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Iron Mountain by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,311,407 shares of the financial services provider’s stock valued at $107,554,000 after buying an additional 275,336 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Iron Mountain by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,045 shares of the financial services provider’s stock worth $456,000 after buying an additional 62 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Iron Mountain by 36.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 68,209 shares of the financial services provider’s stock worth $2,216,000 after buying an additional 18,119 shares during the last quarter. Finally, Comerica Bank raised its position in Iron Mountain by 3.6% in the fourth quarter. Comerica Bank now owns 69,956 shares of the financial services provider’s stock worth $2,337,000 after buying an additional 2,416 shares during the last quarter. Institutional investors own 87.30% 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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