StockNews.com Begins Coverage on Iron Mountain (NYSE:IRM)

StockNews.com began coverage on shares of Iron Mountain (NYSE:IRM – Get Rating) in a research note issued to investors on Thursday morning. The firm issued a hold rating on the financial services provider’s stock.

Several other equities analysts have also recently issued reports on IRM. Royal Bank of Canada restated a sector perform rating and issued a $58.00 price target on shares of Iron Mountain in a research report on Monday, March 6th. BNP Paribas began coverage on Iron Mountain in a research report on Wednesday, December 14th. They set an outperform rating and a $66.00 target price on the stock. Finally, Exane BNP Paribas began coverage on Iron Mountain in a research report on Wednesday, December 14th. They set an outperform rating on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $60.80.

Iron Mountain Stock Down 3.4 %

IRM opened at $50.29 on Thursday. The business’s 50-day simple moving average is $52.91 and its 200-day simple moving average is $51.41. The company has a debt-to-equity ratio of 16.46, a quick ratio of 0.81 and a current ratio of 0.81. Iron Mountain has a one year low of $43.33 and a one year high of $58.61. The stock has a market capitalization of $14.63 billion, a P/E ratio of 26.47, a price-to-earnings-growth ratio of 3.58 and a beta of 0.89.

Iron Mountain (NYSE:IRM – Get Rating) last posted its earnings results on Thursday, February 23rd. The financial services provider reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.46). The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.32 billion. Iron Mountain had a return on equity of 79.49% and a net margin of 10.91%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 EPS. Analysts anticipate that Iron Mountain will post 3.64 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 5th. Stockholders of record on Wednesday, March 15th will be paid a dividend of $0.6185 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $2.47 annualized dividend and a dividend yield of 4.92%. Iron Mountain’s payout ratio is 130.00%.

Insider Transactions at Iron Mountain

In related news, EVP Deborah Marson sold 1,125 shares of the company’s stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $50.58, for a total value of $56,902.50. Following the sale, the executive vice president now owns 45,782 shares of the company’s stock, valued at approximately $2,315,653.56. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO William L. Meaney sold 10,507 shares of the company’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $50.63, for a total value of $531,969.41. Following the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $14,968,759.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Deborah Marson sold 1,125 shares of the company’s stock in a transaction that occurred on Wednesday, January 11th. The shares were sold at an average price of $50.58, for a total value of $56,902.50. Following the completion of the sale, the executive vice president now directly owns 45,782 shares in the company, valued at approximately $2,315,653.56. The disclosure for this sale can be found here. Insiders have sold 105,059 shares of company stock valued at $5,502,935 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Iron Mountain

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Compass Wealth Management LLC purchased a new position in shares of Iron Mountain during the 4th quarter worth $26,000. True Wealth Design LLC acquired a new stake in Iron Mountain in the 4th quarter valued at $33,000. Allworth Financial LP increased its holdings in Iron Mountain by 132.0% in the 3rd quarter. Allworth Financial LP now owns 775 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 441 shares in the last quarter. First Personal Financial Services purchased a new position in Iron Mountain in the 3rd quarter valued at about $35,000. Finally, Cambridge Trust Co. purchased a new position in Iron Mountain in the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 77.12% of the company’s stock.

About Iron Mountain

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Iron Mountain, Inc engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business.