Iron Mountain (NYSE:IRM) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Iron Mountain (NYSE:IRM – Get Rating) in a report published on Thursday. The firm issued a hold rating on the financial services provider’s stock.

IRM has been the topic of several other research reports. BNP Paribas initiated coverage on shares of Iron Mountain in a research note on Wednesday, December 14th. They issued an outperform rating and a $66.00 price target on the stock. Royal Bank of Canada reiterated a sector perform rating and set a $58.00 price objective on shares of Iron Mountain in a research note on Monday, March 6th. Finally, Exane BNP Paribas initiated coverage on shares of Iron Mountain in a research note on Wednesday, December 14th. They set an outperform rating on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $60.80.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $50.29 on Thursday. The firm’s 50 day moving average is $52.91 and its two-hundred day moving average is $51.41. Iron Mountain has a 52 week low of $43.33 and a 52 week high of $58.61. The firm has a market capitalization of $14.63 billion, a P/E ratio of 26.47, a PEG ratio of 3.58 and a beta of 0.89. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 16.46.

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

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 15th will be given a $0.6185 dividend. 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 yield of 4.92%. Iron Mountain’s payout ratio is 130.00%.

Insiders Place Their Bets

In other Iron Mountain news, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $53.72, for a total value of $60,435.00. Following the transaction, the executive vice president now owns 63,151 shares in the company, valued at $3,392,471.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Iron Mountain news, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $53.72, for a total value of $60,435.00. Following the transaction, the executive vice president now owns 63,151 shares in the company, valued at $3,392,471.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William L. Meaney sold 10,507 shares of Iron Mountain stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $50.63, for a total transaction of $531,969.41. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $14,968,759.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 105,059 shares of company stock worth $5,502,935. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Iron Mountain

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SVB Wealth LLC boosted its stake in Iron Mountain by 1.0% in the 2nd quarter. SVB Wealth LLC now owns 28,151 shares of the financial services provider’s stock worth $1,371,000 after purchasing an additional 269 shares during the period. Cubist Systematic Strategies LLC boosted its stake in shares of Iron Mountain by 103.7% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 77,968 shares of the financial services provider’s stock valued at $3,428,000 after buying an additional 39,691 shares during the period. Pearl River Capital LLC acquired a new stake in shares of Iron Mountain during the 3rd quarter valued at $459,000. AE Wealth Management LLC boosted its stake in shares of Iron Mountain by 6.4% during the 3rd quarter. AE Wealth Management LLC now owns 50,271 shares of the financial services provider’s stock valued at $2,210,000 after buying an additional 3,045 shares during the period. Finally, Financial Advocates Investment Management acquired a new stake in shares of Iron Mountain during the 3rd quarter valued at $204,000. Institutional investors and hedge funds 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.