Truist Financial started coverage on shares of Iron Mountain (NYSE:IRM - Free Report) in a report released on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $95.00 price target on the financial services provider's stock.
Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their target price on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research report on Tuesday, February 18th. StockNews.com raised Iron Mountain from a "sell" rating to a "hold" rating in a research note on Tuesday, April 8th. Wells Fargo & Company decreased their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. Finally, Barclays lowered their price target on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a report on Thursday, March 20th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $121.29.
Get Our Latest Stock Report on Iron Mountain
Iron Mountain Price Performance
IRM stock traded up $1.76 during midday trading on Tuesday, reaching $83.39. 1,727,819 shares of the company's stock traded hands, compared to its average volume of 1,819,298. Iron Mountain has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The company has a market capitalization of $24.50 billion, a P/E ratio of 136.71, a PEG ratio of 5.15 and a beta of 0.97. The business has a 50-day moving average price of $89.48 and a two-hundred day moving average price of $105.53.
Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. As a group, research analysts forecast that Iron Mountain will post 4.54 earnings per share for the current fiscal year.
Iron Mountain Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were given a dividend of $0.785 per share. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.77%. The ex-dividend date was Monday, March 17th. Iron Mountain's dividend payout ratio is currently 514.75%.
Insider Activity
In related news, CAO Daniel Borges sold 6,433 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the sale, the chief accounting officer now owns 288 shares in the company, valued at approximately $26,737.92. This represents a 95.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the transaction, the executive vice president now directly owns 13,054 shares of the company's stock, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 318,973 shares of company stock worth $29,370,872 in the last quarter. Corporate insiders own 2.10% of the company's stock.
Hedge Funds Weigh In On Iron Mountain
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in shares of Iron Mountain by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider's stock worth $978,479,000 after buying an additional 128,622 shares in the last quarter. Wealthfront Advisers LLC grew its holdings in shares of Iron Mountain by 9,843.3% during the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock valued at $721,562,000 after purchasing an additional 6,795,792 shares during the last quarter. Northern Trust Corp increased its position in Iron Mountain by 56.1% during the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock worth $454,756,000 after purchasing an additional 1,554,746 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Iron Mountain by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,219,263 shares of the financial services provider's stock valued at $443,476,000 after buying an additional 15,097 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Iron Mountain by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider's stock valued at $365,656,000 after acquiring an additional 92,475 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.
About Iron Mountain
(
Get Free Report)
Iron Mountain Incorporated NYSE: IRM is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.
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