Iron Mountain (IRM) Lowered to “C+” at TheStreet

TheStreet lowered shares of Iron Mountain (NYSE:IRM) from a b- rating to a c+ rating in a report released on Tuesday morning, TheStreetRatingsTable reports.

Several other brokerages have also weighed in on IRM. ValuEngine upgraded Iron Mountain from a hold rating to a buy rating in a research note on Monday, February 4th. Zacks Investment Research lowered Iron Mountain from a hold rating to a sell rating in a research note on Tuesday, April 23rd. Mitsubishi UFJ Financial Group lifted their price target on Iron Mountain to $37.00 and gave the company a neutral rating in a research note on Wednesday, February 20th. Credit Suisse Group restated an underperform rating on shares of Iron Mountain in a research note on Tuesday, February 19th. Finally, Robert W. Baird set a $34.00 price target on Iron Mountain and gave the company a hold rating in a research note on Friday, February 15th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The company has an average rating of Hold and an average price target of $35.13.

Shares of IRM stock opened at $32.15 on Tuesday. The stock has a market capitalization of $9.01 billion, a PE ratio of 13.98, a P/E/G ratio of 3.02 and a beta of 0.63. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 4.75. Iron Mountain has a 52-week low of $30.22 and a 52-week high of $37.32.



Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.05). The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.06 billion. Iron Mountain had a net margin of 8.22% and a return on equity of 19.61%. The business’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. As a group, equities research analysts expect that Iron Mountain will post 2.24 earnings per share for the current fiscal year.

In other Iron Mountain news, EVP Ernest W. Cloutier sold 46,014 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $36.41, for a total transaction of $1,675,369.74. Following the completion of the sale, the executive vice president now directly owns 109,757 shares in the company, valued at approximately $3,996,252.37. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Stuart B. Brown sold 2,200 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $31.65, for a total value of $69,630.00. Following the sale, the chief financial officer now owns 18,525 shares of the company’s stock, valued at $586,316.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,426 shares of company stock valued at $2,882,023. 1.90% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of IRM. Cohen & Steers Inc. increased its stake in Iron Mountain by 68.4% during the 4th quarter. Cohen & Steers Inc. now owns 10,970,773 shares of the financial services provider’s stock worth $355,563,000 after buying an additional 4,456,942 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Iron Mountain by 6,329.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,923,848 shares of the financial services provider’s stock worth $127,172,000 after buying an additional 3,862,815 shares in the last quarter. Norges Bank purchased a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $63,345,000. Deutsche Bank AG grew its position in shares of Iron Mountain by 250.0% in the fourth quarter. Deutsche Bank AG now owns 2,734,846 shares of the financial services provider’s stock valued at $88,631,000 after purchasing an additional 1,953,547 shares in the last quarter. Finally, Stifel Financial Corp grew its position in shares of Iron Mountain by 418.9% in the fourth quarter. Stifel Financial Corp now owns 1,940,923 shares of the financial services provider’s stock valued at $62,906,000 after purchasing an additional 1,566,863 shares in the last quarter. Institutional investors own 87.82% of the company’s stock.

Iron Mountain Company Profile

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.

Further Reading: Beige Book

Analyst Recommendations for Iron Mountain (NYSE:IRM)

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