Iron Mountain (NYSE:IRM) Receives “Sell” Rating from Credit Suisse Group

Credit Suisse Group reaffirmed their sell rating on shares of Iron Mountain (NYSE:IRM) in a report issued on Thursday, reports. Credit Suisse Group currently has a $21.00 price objective on the financial services provider’s stock.

IRM has been the subject of several other reports. Bank of America cut Iron Mountain from a neutral rating to an underperform rating and cut their price target for the company from $33.00 to $25.00 in a research note on Thursday, July 11th. TheStreet upgraded Iron Mountain from a c+ rating to a b- rating in a research note on Monday. Wells Fargo & Co assumed coverage on Iron Mountain in a research note on Wednesday, July 10th. They issued an outperform rating and a $31.60 price target for the company. Robert W. Baird upgraded Iron Mountain from an underperform rating to a neutral rating and boosted their price target for the company from $27.00 to $29.00 in a research note on Friday, August 2nd. Finally, ValuEngine upgraded Iron Mountain from a sell rating to a hold rating in a research note on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $33.51.

Shares of NYSE:IRM traded down $1.59 during trading on Thursday, reaching $32.55. 3,600,183 shares of the stock were exchanged, compared to its average volume of 2,492,678. Iron Mountain has a 12 month low of $29.28 and a 12 month high of $37.32. The firm has a market cap of $9.80 billion, a PE ratio of 14.15, a PEG ratio of 3.90 and a beta of 0.54. The stock has a 50-day moving average price of $31.42 and a 200-day moving average price of $32.65. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 6.06.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Iron Mountain had a return on equity of 19.65% and a net margin of 8.18%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 earnings per share. On average, sell-side analysts expect that Iron Mountain will post 2.26 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Monday, September 16th will be given a dividend of $0.611 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.44 annualized dividend and a yield of 7.51%. Iron Mountain’s dividend payout ratio is currently 106.09%.

In other Iron Mountain news, EVP Patrick J. Keddy sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $33.00, for a total transaction of $198,000.00. Following the completion of the transaction, the executive vice president now directly owns 24,114 shares in the company, valued at $795,762. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.90% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Phocas Financial Corp. acquired a new position in Iron Mountain during the second quarter valued at approximately $211,000. Mcmillion Capital Management Inc. acquired a new position in shares of Iron Mountain during the second quarter worth $31,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Iron Mountain during the second quarter worth $31,000. Valeo Financial Advisors LLC increased its holdings in shares of Iron Mountain by 194.2% during the second quarter. Valeo Financial Advisors LLC now owns 1,062 shares of the financial services provider’s stock worth $33,000 after buying an additional 701 shares in the last quarter. Finally, Thor Advisors LLC acquired a new position in shares of Iron Mountain during the first quarter worth $38,000. Institutional investors and hedge funds own 85.93% of the company’s stock.

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 approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.

Further Reading: Purposes and Functions of the Federal Reserve

Analyst Recommendations for Iron Mountain (NYSE:IRM)

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's FREE daily email newsletter.


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit