Iron Mountain (IRM) Reaches New 52-Week Low at $30.68

Iron Mountain Inc (NYSE:IRM)’s share price hit a new 52-week low during trading on Friday . The stock traded as low as $30.68 and last traded at $30.75, with a volume of 2038214 shares trading hands. The stock had previously closed at $32.70.

IRM has been the topic of several research reports. Berenberg Bank initiated coverage on Iron Mountain in a research note on Thursday, September 20th. They set a “buy” rating and a $52.00 price target on the stock. Barclays initiated coverage on Iron Mountain in a research note on Wednesday, July 18th. They set an “equal weight” rating and a $39.00 price target on the stock. Zacks Investment Research upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Monday, October 8th. Stifel Nicolaus lowered Iron Mountain from a “buy” rating to a “hold” rating and cut their price target for the company from $39.00 to $34.00 in a research note on Friday. Finally, ValuEngine upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $38.00.

The stock has a market cap of $9.36 billion, a price-to-earnings ratio of 15.35 and a beta of 0.61. The company has a quick ratio of 0.98, a current ratio of 0.97 and a debt-to-equity ratio of 4.18.



Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Iron Mountain had a return on equity of 14.71% and a net margin of 5.49%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. On average, equities analysts predict that Iron Mountain Inc will post 2.13 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Monday, December 17th will be given a dividend of $0.611 per share. The ex-dividend date is Friday, December 14th. This represents a $2.44 dividend on an annualized basis and a yield of 8.02%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.59. Iron Mountain’s dividend payout ratio (DPR) is presently 110.33%.

A number of hedge funds have recently modified their holdings of IRM. The Manufacturers Life Insurance Company boosted its position in Iron Mountain by 26.0% during the first quarter. The Manufacturers Life Insurance Company now owns 294,297 shares of the financial services provider’s stock valued at $9,671,000 after purchasing an additional 60,807 shares in the last quarter. LPL Financial LLC boosted its position in Iron Mountain by 23.2% during the first quarter. LPL Financial LLC now owns 64,678 shares of the financial services provider’s stock valued at $2,125,000 after purchasing an additional 12,187 shares in the last quarter. Millennium Management LLC bought a new stake in Iron Mountain during the first quarter valued at about $21,996,000. Legal & General Group Plc boosted its position in Iron Mountain by 3.3% during the first quarter. Legal & General Group Plc now owns 1,335,454 shares of the financial services provider’s stock valued at $43,883,000 after purchasing an additional 42,701 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in Iron Mountain by 15.5% during the first quarter. Royal Bank of Canada now owns 388,910 shares of the financial services provider’s stock valued at $12,781,000 after purchasing an additional 52,277 shares in the last quarter. 86.31% of the stock is currently owned by institutional investors.

About Iron Mountain (NYSE:IRM)

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 over 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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