Wells Fargo & Co initiated coverage on shares of Iron Mountain (NYSE:IRM) in a research report released on Wednesday, Benzinga reports. The firm issued an outperform rating and a $31.60 price target on the financial services provider’s stock.
A number of other brokerages also recently weighed in on IRM. Robert W. Baird set a $120.00 target price on shares of BioMarin Pharmaceutical and gave the company a buy rating in a research note on Friday, April 26th. TheStreet raised shares of Third Point Reinsurance from a d+ rating to a c- rating in a research note on Tuesday, May 14th. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research downgraded shares of Guaranty Federal Bancshares from a hold rating to a sell rating in a research note on Tuesday, April 23rd. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $33.73.
IRM stock opened at $30.17 on Wednesday. The company has a 50 day moving average price of $31.38. The company has a debt-to-equity ratio of 4.75, a current ratio of 0.80 and a quick ratio of 0.80. Iron Mountain has a 12 month low of $29.44 and a 12 month high of $37.32. The company has a market capitalization of $8.66 billion, a price-to-earnings ratio of 14.03, a P/E/G ratio of 3.40 and a beta of 0.61.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Monday, June 17th were paid a dividend of $0.611 per share. This represents a $2.44 annualized dividend and a dividend yield of 8.10%. The ex-dividend date was Friday, June 14th. Iron Mountain’s dividend payout ratio (DPR) is presently 106.09%.
In other Iron Mountain news, Director Walter C. Rakowich sold 2,024 shares of Iron Mountain stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $31.47, for a total transaction of $63,695.28. Following the transaction, the director now directly owns 23,360 shares of the company’s stock, valued at $735,139.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ernest W. Cloutier sold 46,014 shares of Iron Mountain stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $36.41, for a total transaction of $1,675,369.74. Following the transaction, the executive vice president now directly owns 109,757 shares in the company, valued at $3,996,252.37. The disclosure for this sale can be found here. Insiders have sold 56,602 shares of company stock worth $2,038,718 over the last three months. Insiders own 1.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of the business. Financial Advocates Investment Management grew its holdings in shares of Iron Mountain by 178.3% in the fourth quarter. Financial Advocates Investment Management now owns 835 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 535 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in Iron Mountain by 194.2% in the second quarter. Valeo Financial Advisors LLC now owns 1,062 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 701 shares in the last quarter. Executive Wealth Management LLC boosted its holdings in Iron Mountain by 96.9% in the first quarter. Executive Wealth Management LLC now owns 1,014 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 499 shares in the last quarter. Bremer Bank National Association bought a new stake in Iron Mountain in the first quarter valued at $36,000. Finally, Secrest Blakey & Associates LLC bought a new stake in shares of Iron Mountain during the 1st quarter valued at $37,000. 88.04% of the stock is currently owned by hedge funds and other institutional investors.
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.
Featured Article: Moving Average – How it Helps Investors in Stock Selection
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.