Iron Mountain Incorporated (IRM) Receives $40.50 Consensus Price Target from Analysts

Iron Mountain Incorporated (NYSE:IRM) has earned a consensus recommendation of “Buy” from the eight research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $40.50.

IRM has been the subject of several research reports. Robert W. Baird set a $39.00 price objective on shares of Iron Mountain and gave the company a “hold” rating in a research note on Friday, August 25th. Stifel Nicolaus reissued a “buy” rating and set a $40.00 price objective on shares of Iron Mountain in a research note on Sunday, September 3rd. Zacks Investment Research cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Evercore ISI initiated coverage on shares of Iron Mountain in a research note on Wednesday, October 18th. They set an “outperform” rating and a $46.00 price objective for the company. Finally, BidaskClub cut shares of Iron Mountain from a “buy” rating to a “hold” rating in a research note on Friday, July 28th.

Iron Mountain (IRM) traded up $0.33 during mid-day trading on Thursday, reaching $40.99. 752,100 shares of the company’s stock traded hands, compared to its average volume of 1,226,058. The stock has a market cap of $10,853.66, a PE ratio of 19.55, a P/E/G ratio of 6.34 and a beta of 1.02. The company has a debt-to-equity ratio of 3.59, a current ratio of 1.08 and a quick ratio of 1.08. Iron Mountain has a 12-month low of $30.75 and a 12-month high of $41.17.

Iron Mountain (NYSE:IRM) last released its earnings results on Tuesday, October 24th. The financial services provider reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.02. The firm had revenue of $966.00 million during the quarter, compared to analysts’ expectations of $960.99 million. Iron Mountain had a net margin of 5.54% and a return on equity of 15.49%. Iron Mountain’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 EPS. equities analysts anticipate that Iron Mountain will post 2.14 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a dividend of $0.5875 per share. This represents a $2.35 dividend on an annualized basis and a yield of 5.73%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Thursday, December 14th. Iron Mountain’s dividend payout ratio is 275.00%.

In other Iron Mountain news, EVP John Tomovcsik sold 21,037 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $40.02, for a total value of $841,900.74. Following the transaction, the executive vice president now owns 62,379 shares in the company, valued at approximately $2,496,407.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Patrick J. Keddy sold 23,428 shares of the business’s stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $39.04, for a total transaction of $914,629.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,379 shares of company stock valued at $1,911,241. 1.50% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Iron Mountain by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 43,398,710 shares of the financial services provider’s stock worth $1,491,180,000 after buying an additional 151,039 shares in the last quarter. BlackRock Inc. lifted its holdings in Iron Mountain by 5.0% in the 2nd quarter. BlackRock Inc. now owns 18,924,442 shares of the financial services provider’s stock worth $650,244,000 after buying an additional 896,751 shares in the last quarter. Capital International Investors lifted its holdings in Iron Mountain by 2.6% in the 3rd quarter. Capital International Investors now owns 12,811,172 shares of the financial services provider’s stock worth $498,355,000 after buying an additional 324,000 shares in the last quarter. Parnassus Investments CA lifted its holdings in Iron Mountain by 1.0% in the 3rd quarter. Parnassus Investments CA now owns 12,497,627 shares of the financial services provider’s stock worth $486,158,000 after buying an additional 122,980 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Iron Mountain by 2.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,610,830 shares of the financial services provider’s stock worth $140,460,000 after buying an additional 80,395 shares in the last quarter. Hedge funds and other institutional investors own 87.58% of the company’s stock.

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About Iron Mountain

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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