Berenberg Bank initiated coverage on shares of Iron Mountain (NYSE:IRM) in a research report sent to investors on Thursday, September 20th, Marketbeat.com reports. The firm issued a buy rating and a $52.00 price objective on the financial services provider’s stock.
A number of other research analysts have also recently issued reports on the stock. Credit Suisse Group started coverage on shares of Iron Mountain in a report on Friday, August 10th. They issued an underperform rating and a $25.00 target price for the company. Zacks Investment Research raised shares of Iron Mountain from a sell rating to a hold rating in a research note on Wednesday, August 1st. Barclays started coverage on shares of Iron Mountain in a research note on Wednesday, July 18th. They set an equal weight rating and a $39.00 price objective for the company. ValuEngine raised shares of Iron Mountain from a sell rating to a hold rating in a research note on Tuesday, May 29th. Finally, TheStreet raised shares of Iron Mountain from a c+ rating to a b- rating in a research note on Wednesday, June 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $40.25.
NYSE:IRM traded up $0.09 during mid-day trading on Thursday, reaching $31.59. The stock had a trading volume of 3,133,889 shares, compared to its average volume of 1,780,424. Iron Mountain has a twelve month low of $30.78 and a twelve month high of $41.53. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 3.87. The company has a market cap of $9.88 billion, a P/E ratio of 14.83 and a beta of 0.61.
Iron Mountain (NYSE:IRM) last issued its earnings results on Friday, July 27th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.03. Iron Mountain had a net margin of 4.56% and a return on equity of 14.82%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the company posted $0.30 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. Analysts expect that Iron Mountain will post 2.12 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 2nd. Shareholders of record on Monday, September 17th were paid a $0.5875 dividend. The ex-dividend date of this dividend was Friday, September 14th. This represents a $2.35 annualized dividend and a yield of 7.44%. Iron Mountain’s payout ratio is currently 110.33%.
In other Iron Mountain news, CFO Stuart B. Brown sold 1,750 shares of Iron Mountain stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $35.38, for a total value of $61,915.00. Following the completion of the sale, the chief financial officer now directly owns 7,661 shares of the company’s stock, valued at approximately $271,046.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Synovus Financial Corp boosted its holdings in shares of Iron Mountain by 402.0% in the 2nd quarter. Synovus Financial Corp now owns 3,012 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 2,412 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of Iron Mountain during the 2nd quarter valued at $115,000. Klingenstein Fields & Co. LLC acquired a new position in shares of Iron Mountain during the 2nd quarter valued at $202,000. Qube Research & Technologies Ltd lifted its holdings in shares of Iron Mountain by 775.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 5,772 shares of the financial services provider’s stock valued at $202,000 after acquiring an additional 5,113 shares in the last quarter. Finally, Chemical Bank acquired a new position in shares of Iron Mountain during the 2nd quarter valued at $207,000. Institutional investors own 86.04% 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 over 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.
Featured Story: Earnings Per Share
Receive News & Ratings for Iron Mountain Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iron Mountain and related companies with MarketBeat.com's FREE daily email newsletter.