Analysts Set Iron Mountain Inc (IRM) Target Price at $38.83

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Shares of Iron Mountain Inc (NYSE:IRM) have received an average rating of “Hold” from the nine brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $38.83.

Several research analysts have commented on IRM shares. Barclays started coverage on Iron Mountain in a research note on Wednesday, July 18th. They issued an “equal weight” rating and a $39.00 target price for the company. ValuEngine downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research note on Thursday, May 17th. Zacks Investment Research downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Credit Suisse Group started coverage on Iron Mountain in a research note on Friday, August 10th. They issued an “underperform” rating and a $25.00 target price for the company. Finally, TheStreet upgraded Iron Mountain from a “c+” rating to a “b-” rating in a research note on Wednesday, June 20th.

In other Iron Mountain news, CFO Stuart B. Brown sold 1,750 shares of the firm’s stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $35.38, for a total value of $61,915.00. Following the sale, the chief financial officer now owns 7,661 shares of the company’s stock, valued at approximately $271,046.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Walter C. Rakowich sold 1,765 shares of the firm’s stock in a transaction dated Tuesday, July 3rd. The shares were sold at an average price of $34.95, for a total value of $61,686.75. Following the completion of the sale, the director now directly owns 20,324 shares in the company, valued at approximately $710,323.80. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Several large investors have recently added to or reduced their stakes in IRM. Wells Fargo & Company MN raised its holdings in shares of Iron Mountain by 17.9% in the 1st quarter. Wells Fargo & Company MN now owns 619,786 shares of the financial services provider’s stock valued at $20,366,000 after acquiring an additional 94,107 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Iron Mountain by 17.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 54,673 shares of the financial services provider’s stock valued at $1,797,000 after acquiring an additional 8,300 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Iron Mountain by 2.8% in the 1st quarter. Rhumbline Advisers now owns 559,849 shares of the financial services provider’s stock valued at $18,397,000 after acquiring an additional 15,278 shares in the last quarter. Dupont Capital Management Corp raised its holdings in shares of Iron Mountain by 40.9% in the 1st quarter. Dupont Capital Management Corp now owns 34,528 shares of the financial services provider’s stock valued at $1,135,000 after acquiring an additional 10,019 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its holdings in shares of Iron Mountain by 116.5% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 32,278 shares of the financial services provider’s stock valued at $1,061,000 after acquiring an additional 17,372 shares in the last quarter. 86.00% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE IRM opened at $35.36 on Wednesday. Iron Mountain has a 52 week low of $30.78 and a 52 week 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 stock has a market capitalization of $10.38 billion, a price-to-earnings ratio of 16.60 and a beta of 0.62.

Iron Mountain (NYSE:IRM) last issued its earnings results on Friday, July 27th. The financial services provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.53 by $0.03. Iron Mountain had a return on equity of 14.82% and a net margin of 4.56%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the company earned $0.30 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. equities analysts forecast that Iron Mountain will post 2.12 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 2nd. Shareholders of record on Monday, September 17th will be issued a $0.5875 dividend. The ex-dividend date of this dividend is Friday, September 14th. This represents a $2.35 annualized dividend and a dividend yield of 6.65%. Iron Mountain’s payout ratio is currently 110.33%.

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.

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Analyst Recommendations for Iron Mountain (NYSE:IRM)

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