Robert W. Baird lowered shares of Iron Mountain (NYSE:IRM) from a neutral rating to an underperform rating in a research note released on Friday morning, Briefing.com Automated Import reports. The brokerage currently has $27.00 target price on the financial services provider’s stock, down from their previous target price of $34.00.
Other equities research analysts have also issued research reports about the stock. ValuEngine raised shares of Iron Mountain from a hold rating to a buy rating in a research report on Monday, February 4th. Zacks Investment Research reaffirmed a hold rating and set a $36.00 price target on shares of Iron Mountain in a research report on Monday, December 31st. Mitsubishi UFJ Financial Group upped their price target on shares of Iron Mountain to $37.00 and gave the company a neutral rating in a research report on Wednesday, February 20th. Finally, Credit Suisse Group reaffirmed an underperform rating on shares of Iron Mountain in a research report on Tuesday, February 19th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Iron Mountain has a consensus rating of Hold and a consensus price target of $35.13.
NYSE IRM opened at $32.44 on Friday. Iron Mountain has a 52 week low of $30.22 and a 52 week high of $37.32. The stock has a market cap of $9.30 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 4.05 and a beta of 0.69. The company has a quick ratio of 0.83, a current ratio of 0.80 and a debt-to-equity ratio of 5.69.
Iron Mountain (NYSE:IRM) last released its quarterly 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). Iron Mountain had a net margin of 8.22% and a return on equity of 19.61%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the company earned $0.48 EPS. Iron Mountain’s revenue for the quarter was up 1.1% compared to the same quarter last year. Sell-side analysts forecast that Iron Mountain will post 2.23 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were paid a dividend of $0.611 per share. The ex-dividend date was Thursday, March 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 7.53%. Iron Mountain’s dividend payout ratio (DPR) is presently 106.09%.
In other Iron Mountain news, EVP Theodore Maclean sold 3,442 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $35.80, for a total value of $123,223.60. Following the completion of the transaction, the executive vice president now directly owns 11,204 shares in the company, valued at approximately $401,103.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 8,621 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $35.28, for a total value of $304,148.88. Following the completion of the transaction, the chief executive officer now owns 155,007 shares of the company’s stock, valued at $5,468,646.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,263 shares of company stock valued at $3,588,658. 1.60% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Bessemer Group Inc. boosted its stake in Iron Mountain by 24.2% in the 4th quarter. Bessemer Group Inc. now owns 1,723 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 336 shares during the period. American International Group Inc. raised its holdings in Iron Mountain by 0.4% during the 4th quarter. American International Group Inc. now owns 106,570 shares of the financial services provider’s stock valued at $3,454,000 after buying an additional 372 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Iron Mountain by 1.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 31,155 shares of the financial services provider’s stock valued at $1,010,000 after buying an additional 387 shares during the period. Mackenzie Financial Corp raised its holdings in Iron Mountain by 5.9% during the 4th quarter. Mackenzie Financial Corp now owns 8,505 shares of the financial services provider’s stock valued at $276,000 after buying an additional 473 shares during the period. Finally, American Asset Management Inc. raised its holdings in Iron Mountain by 6.5% during the 1st quarter. American Asset Management Inc. now owns 8,150 shares of the financial services provider’s stock valued at $289,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 89.42% 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 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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