Iron Mountain Incorporated (IRM) Price Target Raised to $43.00 at Robert W. Baird

Iron Mountain Incorporated (NYSE:IRM) had its target price hoisted by Robert W. Baird from $39.00 to $43.00 in a research note issued to investors on Wednesday. Robert W. Baird currently has a neutral rating on the financial services provider’s stock.

Several other analysts also recently issued reports on the company. Stifel Nicolaus reiterated a buy rating and issued a $43.00 price target (up from $40.00) on shares of Iron Mountain in a report on Friday, October 20th. Evercore ISI began coverage on Iron Mountain in a report on Wednesday, October 18th. They issued an outperform rating and a $46.00 price target for the company. Zacks Investment Research downgraded Iron Mountain from a buy rating to a hold rating in a report on Tuesday, October 10th. Finally, BidaskClub upgraded Iron Mountain from a buy rating to a strong-buy rating in a report on Saturday, August 26th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Iron Mountain presently has a consensus rating of Hold and a consensus target price of $41.20.

Iron Mountain (IRM) traded up 0.86% on Wednesday, reaching $40.00. The company had a trading volume of 1,064,967 shares. The stock’s 50-day moving average price is $39.59 and its 200 day moving average price is $36.70. The firm has a market capitalization of $10.58 billion, a price-to-earnings ratio of 54.87 and a beta of 0.91. Iron Mountain has a 52-week low of $30.75 and a 52-week high of $41.17.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. Iron Mountain had a return on equity of 15.49% and a net margin of 5.54%. The firm had revenue of $966.00 million during the quarter, compared to the consensus estimate of $960.99 million. During the same period in the prior year, the firm earned $0.44 EPS. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities analysts anticipate that Iron Mountain will post $1.16 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be given a $0.5875 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.55. This represents a $2.35 dividend on an annualized basis and a yield of 5.88%. The ex-dividend date of this dividend is Thursday, December 14th. Iron Mountain’s dividend payout ratio is presently 275.00%.

In other Iron Mountain news, EVP John Tomovcsik sold 21,037 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $40.02, for a total value of $841,900.74. Following the completion of the transaction, the executive vice president now directly owns 62,379 shares of the company’s stock, valued at approximately $2,496,407.58. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Patrick J. Keddy sold 23,428 shares of the company’s stock in a transaction dated Wednesday, October 11th. The shares were 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 three months, insiders sold 76,329 shares of company stock valued at $2,969,441. 1.50% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the business. Creative Planning boosted its position in Iron Mountain by 4.6% in the 2nd quarter. Creative Planning now owns 3,049 shares of the financial services provider’s stock valued at $105,000 after buying an additional 134 shares during the last quarter. Pacer Advisors Inc. boosted its position in Iron Mountain by 8.8% in the 2nd quarter. Pacer Advisors Inc. now owns 3,985 shares of the financial services provider’s stock valued at $137,000 after buying an additional 322 shares during the last quarter. Rehmann Capital Advisory Group purchased a new position in Iron Mountain in the 3rd quarter valued at about $213,000. Conning Inc. purchased a new position in Iron Mountain in the 3rd quarter valued at about $213,000. Finally, CIBC World Markets Inc. purchased a new position in Iron Mountain in the 2nd quarter valued at about $203,000. 87.54% of the stock is owned by institutional investors.

Iron Mountain Company Profile

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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