Published On: Tue, Sep 13th, 2016

Iron Mountain’s (IRM) Buy Rating Reaffirmed at Stifel Nicolaus

Iron Mountain Inc. (NYSE:IRM)‘s stock had its “buy” rating reissued by Stifel Nicolaus in a research report issued to clients and investors on Tuesday.
Several other brokerages have also recently commented on IRM. Piper Jaffray Cos. restated a “buy” rating and issued a $44.00 target price on shares of Iron Mountain in a research report on Friday, June 17th. TheStreet cut shares of Iron Mountain from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. JPMorgan Chase & Co. boosted their target price on shares of Iron Mountain from $42.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, August 5th. Finally, Zacks Investment Research cut shares of Iron Mountain from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Iron Mountain has a consensus rating of “Hold” and an average price target of $40.00.
Shares of Iron Mountain (NYSE:IRM) opened at 36.77 on Tuesday. The company has a market capitalization of $9.68 billion, a PE ratio of 104.16 and a beta of 0.67. The stock’s 50 day moving average is $38.51 and its 200 day moving average is $36.52. Iron Mountain has a 1-year low of $23.64 and a 1-year high of $41.50.

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Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, August 4th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by $0.05. The company had revenue of $883.70 million for the quarter, compared to analyst estimates of $884.46 million. Iron Mountain had a return on equity of 26.91% and a net margin of 2.51%. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 EPS. On average, equities research analysts anticipate that Iron Mountain will post $2.29 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 12th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date of this dividend is Thursday, September 8th. Iron Mountain’s payout ratio is 510.54%.
In other news, VP Edward Bicks sold 1,459 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $40.25, for a total value of $58,724.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ernest W. Cloutier sold 134,462 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $39.93, for a total transaction of $5,369,067.66. Following the completion of the transaction, the executive vice president now owns 38,622 shares in the company, valued at approximately $1,542,176.46. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Canada Pension Plan Investment Board increased its position in Iron Mountain by 1.0% in the first quarter. Canada Pension Plan Investment Board now owns 10,011 shares of the company’s stock worth $339,000 after buying an additional 100 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Iron Mountain by 11.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,555 shares of the company’s stock worth $142,000 after buying an additional 351 shares during the last quarter. Raymond James Trust N.A. increased its position in Iron Mountain by 1.8% in the first quarter. Raymond James Trust N.A. now owns 32,431 shares of the company’s stock worth $1,100,000 after buying an additional 581 shares during the last quarter. Conning Inc. increased its position in Iron Mountain by 9.7% in the second quarter. Conning Inc. now owns 7,271 shares of the company’s stock worth $290,000 after buying an additional 640 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in Iron Mountain by 7.2% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,738 shares of the company’s stock worth $388,000 after buying an additional 658 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.
About Iron Mountain
Iron Mountain Incorporated (Iron Mountain) is engaged in storing records, primarily paper documents and data backup media, and provide information management services. The Company offers records management services, data protection and recovery services and information destruction services. Its information management services are divided into three categories: records management services, data protection and recovery services, and information destruction services.

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