Iron Mountain (NYSE:IRM) Receives “Sell” Rating from Credit Suisse Group
Credit Suisse Group reiterated their sell rating on shares of Iron Mountain (NYSE:IRM) in a research report released on Thursday morning, AnalystRatings.com reports. They currently have a $21.00 target price on the financial services provider’s stock.
A number of other equities analysts also recently commented on the company. ValuEngine upgraded Iron Mountain from a sell rating to a hold rating in a report on Thursday, September 5th. Bank of America downgraded Iron Mountain from a neutral rating to an underperform rating and decreased their target price for the company from $33.00 to $25.00 in a report on Thursday, July 11th. TheStreet upgraded Iron Mountain from a c+ rating to a b- rating in a report on Monday, September 9th. Robert W. Baird upgraded Iron Mountain from an underperform rating to a neutral rating and upped their target price for the company from $27.00 to $29.00 in a report on Friday, August 2nd. Finally, Wells Fargo & Co assumed coverage on Iron Mountain in a report on Wednesday, July 10th. They set an outperform rating and a $31.60 target price for the company. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $33.51.
Shares of IRM stock opened at $32.55 on Thursday. The company has a debt-to-equity ratio of 6.06, a quick ratio of 0.75 and a current ratio of 0.75. Iron Mountain has a fifty-two week low of $29.28 and a fifty-two week high of $37.32. The stock has a 50 day moving average price of $31.46 and a two-hundred day moving average price of $32.64. The company has a market capitalization of $9.80 billion, a P/E ratio of 14.15, a PEG ratio of 3.97 and a beta of 0.54.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Monday, September 16th will be issued a $0.611 dividend. The ex-dividend date is Friday, September 13th. This represents a $2.44 dividend on an annualized basis and a yield of 7.51%. Iron Mountain’s dividend payout ratio (DPR) is 106.09%.
In other Iron Mountain news, EVP Patrick J. Keddy sold 6,000 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $33.00, for a total value of $198,000.00. Following the completion of the transaction, the executive vice president now owns 24,114 shares in the company, valued at $795,762. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.90% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Iron Mountain by 9.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 81,389 shares of the financial services provider’s stock worth $2,547,000 after purchasing an additional 6,729 shares in the last quarter. Atria Investments LLC bought a new position in Iron Mountain in the second quarter worth $1,115,000. BlackRock Inc. raised its holdings in Iron Mountain by 1.9% in the second quarter. BlackRock Inc. now owns 20,655,719 shares of the financial services provider’s stock worth $646,523,000 after purchasing an additional 384,196 shares in the last quarter. Natixis raised its holdings in Iron Mountain by 109.5% in the second quarter. Natixis now owns 1,258,373 shares of the financial services provider’s stock worth $39,387,000 after purchasing an additional 657,795 shares in the last quarter. Finally, WealthPLAN Partners LLC bought a new position in Iron Mountain in the second quarter worth $218,000. Institutional investors and hedge funds own 85.97% of the company’s stock.
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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