Iron Mountain (NYSE:IRM) Receives New Coverage from Analysts at Wells Fargo & Co

Wells Fargo & Co began coverage on shares of Iron Mountain (NYSE:IRM) in a research report sent to investors on Wednesday, Benzinga reports. The firm issued an outperform rating and a $31.60 price objective on the financial services provider’s stock.

A number of other brokerages also recently weighed in on IRM. Zacks Investment Research downgraded Guaranty Federal Bancshares from a hold rating to a sell rating in a research report on Tuesday, April 23rd. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. TheStreet raised Third Point Reinsurance from a d+ rating to a c- rating in a research report on Tuesday, May 14th. Finally, Robert W. Baird set a $120.00 price target on BioMarin Pharmaceutical and gave the stock a buy rating in a research report on Friday, April 26th. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $33.73.

Shares of NYSE IRM opened at $30.17 on Wednesday. The stock’s 50 day simple moving average is $31.38. The firm has a market capitalization of $8.51 billion, a P/E ratio of 13.80, a PEG ratio of 3.34 and a beta of 0.61. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 4.75. Iron Mountain has a twelve month low of $29.44 and a twelve month high of $37.32.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.05). The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.06 billion. Iron Mountain had a return on equity of 19.61% and a net margin of 8.22%. Iron Mountain’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the firm earned $0.48 EPS. Equities analysts forecast that Iron Mountain will post 2.2 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Monday, June 17th were given a $0.611 dividend. This represents a $2.44 annualized dividend and a dividend yield of 8.10%. The ex-dividend date was Friday, June 14th. Iron Mountain’s payout ratio is 106.09%.

In other news, SVP Edward Bicks sold 2,922 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $36.55, for a total value of $106,799.10. Following the transaction, the senior vice president now owns 2,922 shares of the company’s stock, valued at $106,799.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ernest W. Cloutier sold 46,014 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $36.41, for a total value of $1,675,369.74. Following the completion of the transaction, the executive vice president now directly owns 109,757 shares in the company, valued at approximately $3,996,252.37. The disclosure for this sale can be found here. Insiders sold 56,602 shares of company stock worth $2,038,718 in the last ninety days. 1.90% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Iron Mountain by 0.7% in the first quarter. BlackRock Inc. now owns 20,271,523 shares of the financial services provider’s stock valued at $718,826,000 after purchasing an additional 147,381 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Iron Mountain by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,127,799 shares of the financial services provider’s stock valued at $133,783,000 after purchasing an additional 45,950 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Iron Mountain by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 3,915,200 shares of the financial services provider’s stock valued at $126,683,000 after purchasing an additional 270,237 shares during the last quarter. Bank of America Corp DE grew its position in shares of Iron Mountain by 2.1% in the fourth quarter. Bank of America Corp DE now owns 3,755,714 shares of the financial services provider’s stock valued at $121,723,000 after purchasing an additional 78,033 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Iron Mountain by 1.0% in the first quarter. Northern Trust Corp now owns 3,417,034 shares of the financial services provider’s stock valued at $121,169,000 after purchasing an additional 33,106 shares during the last quarter. 88.04% of the stock is currently owned by institutional investors.

About Iron Mountain

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.

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Analyst Recommendations for Iron Mountain (NYSE:IRM)

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