Iron Mountain (NYSE:IRM) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of Iron Mountain (NYSE:IRM – Get Rating) from a hold rating to a sell rating in a research report sent to investors on Sunday.

IRM has been the subject of a number of other research reports. Barclays raised their price objective on shares of Iron Mountain from $56.00 to $64.00 in a research note on Friday, May 5th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $58.00 price objective on shares of Iron Mountain in a research note on Monday, March 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $62.00.

Iron Mountain Trading Down 0.6 %

Shares of NYSE:IRM opened at $54.71 on Friday. The stock has a market capitalization of $15.95 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 3.67 and a beta of 0.91. Iron Mountain has a 1-year low of $43.33 and a 1-year high of $57.21. The company has a debt-to-equity ratio of 19.91, a quick ratio of 0.80 and a current ratio of 0.80. The company has a 50 day moving average price of $53.43 and a 200 day moving average price of $52.90.

Iron Mountain (NYSE:IRM – Get Rating) last issued its earnings results on Thursday, February 23rd. The financial services provider reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.46). Iron Mountain had a return on equity of 88.48% and a net margin of 11.20%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the business posted $0.74 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. On average, research analysts anticipate that Iron Mountain will post 3.77 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Shareholders of record on Thursday, June 15th will be paid a dividend of $0.6185 per share. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date is Wednesday, June 14th. Iron Mountain’s dividend payout ratio (DPR) is currently 124.75%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction on Friday, February 24th. The shares were sold at an average price of $51.77, for a total transaction of $58,241.25. Following the completion of the sale, the executive vice president now owns 59,419 shares of the company’s stock, valued at approximately $3,076,121.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO William L. Meaney sold 17,766 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $52.43, for a total transaction of $931,471.38. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $15,500,929.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Deborah Marson sold 1,125 shares of the firm’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $51.77, for a total transaction of $58,241.25. Following the transaction, the executive vice president now owns 59,419 shares in the company, valued at approximately $3,076,121.63. The disclosure for this sale can be found here. Insiders sold 99,771 shares of company stock valued at $5,281,872 in the last quarter. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Toroso Investments LLC raised its holdings in Iron Mountain by 6.2% in the 1st quarter. Toroso Investments LLC now owns 18,733 shares of the financial services provider’s stock worth $991,000 after acquiring an additional 1,098 shares during the period. Raleigh Capital Management Inc. raised its holdings in Iron Mountain by 5.9% in the 1st quarter. Raleigh Capital Management Inc. now owns 3,557 shares of the financial services provider’s stock worth $188,000 after acquiring an additional 199 shares during the period. Arete Wealth Advisors LLC bought a new position in Iron Mountain in the 1st quarter worth $444,000. Ameriprise Financial Inc. raised its holdings in Iron Mountain by 24.0% in the 1st quarter. Ameriprise Financial Inc. now owns 680,087 shares of the financial services provider’s stock worth $36,050,000 after acquiring an additional 131,454 shares during the period. Finally, Centaurus Financial Inc. raised its holdings in Iron Mountain by 13.0% in the 1st quarter. Centaurus Financial Inc. now owns 6,746 shares of the financial services provider’s stock worth $357,000 after acquiring an additional 777 shares during the period. Institutional investors own 77.12% of the company’s stock.

Iron Mountain Company Profile

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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.