Wells Fargo & Co began coverage on shares of Iron Mountain (NYSE:IRM) in a report published on Wednesday morning, Benzinga reports. The brokerage issued an outperform rating and a $31.60 price objective on the financial services provider’s stock.
Several other brokerages also recently weighed in on IRM. Zacks Investment Research downgraded Guaranty Federal Bancshares from a hold rating to a sell rating in a report on Tuesday, April 23rd. TheStreet raised Third Point Reinsurance from a d+ rating to a c- rating in a report on Tuesday, May 14th. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Finally, Robert W. Baird set a $120.00 price target on BioMarin Pharmaceutical and gave the stock a buy rating in a report on Friday, April 26th. Five analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $33.73.
NYSE IRM traded down $2.40 during trading on Wednesday, hitting $29.67. The company’s stock had a trading volume of 10,976,368 shares, compared to its average volume of 2,505,914. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 4.75. The company has a market capitalization of $9.20 billion, a P/E ratio of 12.90, a PEG ratio of 3.53 and a beta of 0.61. The firm’s 50 day moving average is $31.41. Iron Mountain has a fifty-two week low of $29.44 and a fifty-two week high of $37.32.
Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.05). The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.06 billion. Iron Mountain had a return on equity of 19.61% and a net margin of 8.22%. Iron Mountain’s revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 EPS. On average, research analysts forecast that Iron Mountain will post 2.22 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Monday, June 17th were paid a $0.611 dividend. This represents a $2.44 annualized dividend and a dividend yield of 8.24%. The ex-dividend date of this dividend was Friday, June 14th. Iron Mountain’s payout ratio is 106.09%.
In related news, CFO Stuart B. Brown sold 2,200 shares of Iron Mountain stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $31.65, for a total transaction of $69,630.00. Following the completion of the transaction, the chief financial officer now directly owns 18,525 shares in the company, valued at $586,316.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Edward Bicks sold 2,922 shares of Iron Mountain stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $36.55, for a total value of $106,799.10. Following the transaction, the senior vice president now owns 2,922 shares of the company’s stock, valued at $106,799.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,602 shares of company stock valued at $2,038,718. Company insiders own 1.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its position 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 valued at $718,826,000 after acquiring an additional 147,381 shares in the last quarter. Dimensional Fund Advisors LP raised its position 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 valued at $133,783,000 after acquiring an additional 45,950 shares in the last quarter. Geode Capital Management LLC raised its position 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 valued at $126,683,000 after acquiring an additional 270,237 shares in the last quarter. Bank of America Corp DE raised its position 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 valued at $121,723,000 after acquiring an additional 78,033 shares in the last quarter. Finally, Northern Trust Corp raised its position 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 valued at $121,169,000 after acquiring an additional 33,106 shares in the last quarter. 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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