Iron Mountain (NYSE:IRM) Lowered to Underperform at Bank of America

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Bank of America cut shares of Iron Mountain (NYSE:IRM) from a neutral rating to an underperform rating in a report published on Thursday, BenzingaRatingsTable reports. They currently have $25.00 target price on the financial services provider’s stock, down from their previous target price of $33.00.

IRM has been the topic of a number of other research reports. Zacks Investment Research cut Guaranty Federal Bancshares from a hold rating to a sell rating in a research note on Tuesday, April 23rd. Wells Fargo & Co boosted their price objective on Apollo Global Management from $38.00 to $42.00 and gave the stock an outperform rating in a research note on Wednesday, July 10th. Robert W. Baird set a $120.00 price objective on BioMarin Pharmaceutical and gave the stock a buy rating in a research note on Friday, April 26th. TheStreet upgraded Third Point Reinsurance from a d+ rating to a c- rating in a research note on Tuesday, May 14th. Finally, ValuEngine cut Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Five investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $33.73.

IRM stock opened at $30.17 on Thursday. The firm’s 50-day moving average price is $31.38. Iron Mountain has a 12-month low of $29.44 and a 12-month high of $37.32. The company has a debt-to-equity ratio of 4.75, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $8.66 billion, a P/E ratio of 13.12, a PEG ratio of 5.32 and a beta of 0.61.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.05). Iron Mountain had a net margin of 8.22% and a return on equity of 19.61%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the firm posted $0.48 EPS. Iron Mountain’s revenue was up 1.1% on a year-over-year basis. Equities analysts predict 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. 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 yield of 8.10%. The ex-dividend date was Friday, June 14th. Iron Mountain’s payout ratio is currently 106.09%.

In other Iron Mountain news, EVP Theodore Maclean sold 3,442 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $35.80, for a total transaction of $123,223.60. Following the completion of the transaction, the executive vice president now directly owns 11,204 shares of the company’s stock, valued at approximately $401,103.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Walter C. Rakowich sold 2,024 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $31.47, for a total value 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 disclosure for this sale can be found here. Insiders have sold 7,666 shares of company stock worth $256,549 in the last 90 days. 1.90% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of IRM. Financial Advocates Investment Management raised its stake 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 valued at $25,000 after acquiring an additional 535 shares during the last quarter. Valeo Financial Advisors LLC grew its stake in Iron Mountain by 194.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,062 shares of the financial services provider’s stock valued at $33,000 after buying an additional 701 shares during the last quarter. Executive Wealth Management LLC grew its stake in Iron Mountain by 96.9% in the 1st quarter. Executive Wealth Management LLC now owns 1,014 shares of the financial services provider’s stock valued at $36,000 after buying an additional 499 shares during the last quarter. Bremer Bank National Association acquired a new position in Iron Mountain in the 1st quarter valued at about $36,000. Finally, Secrest Blakey & Associates LLC acquired a new position in Iron Mountain in the 1st quarter valued at about $37,000. 88.04% of the stock is 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.

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Analyst Recommendations for Iron Mountain (NYSE:IRM)

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