Iron Mountain (NYSE:IRM) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Iron Mountain (NYSE:IRM) from a sell rating to a hold rating in a report published on Tuesday morning, ValuEngine reports.

Several other analysts also recently issued reports on IRM. TheStreet raised shares of Iron Mountain from a c+ rating to a b- rating in a report on Monday, September 9th. Barclays set a $39.00 price objective on shares of Iron Mountain and gave the stock a hold rating in a research note on Friday, October 11th. Robert W. Baird upgraded Iron Mountain from an underperform rating to a neutral rating and lifted their price objective for the stock from $27.00 to $29.00 in a research report on Friday, August 2nd. Finally, Credit Suisse Group restated a sell rating and set a $21.00 price objective on shares of Iron Mountain in a research report on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Iron Mountain presently has a consensus rating of Hold and an average target price of $31.23.

Shares of NYSE:IRM traded up $0.11 during midday trading on Tuesday, hitting $34.07. 1,269,736 shares of the stock were exchanged, compared to its average volume of 2,430,376. Iron Mountain has a twelve month low of $29.28 and a twelve month high of $37.32. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 6.51. The company has a 50 day moving average price of $33.06 and a 200-day moving average price of $31.83. The stock has a market cap of $9.75 billion, a P/E ratio of 14.81, a PEG ratio of 3.35 and a beta of 0.53.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.27). Iron Mountain had a net margin of 9.14% and a return on equity of 21.57%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company posted $0.28 earnings per share. Iron Mountain’s revenue was up .1% on a year-over-year basis. On average, equities research analysts expect that Iron Mountain will post 2.27 earnings per share for the current year.

In related news, EVP Patrick J. Keddy sold 6,000 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were 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 of the company’s stock, valued at approximately $795,762. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Cibc World Markets Corp grew its holdings in shares of Iron Mountain by 3,639.5% during the second quarter. Cibc World Markets Corp now owns 1,418,055 shares of the financial services provider’s stock worth $44,385,000 after buying an additional 1,380,134 shares in the last quarter. Vanguard Group Inc. boosted its position in Iron Mountain by 2.5% during the second quarter. Vanguard Group Inc. now owns 45,733,966 shares of the financial services provider’s stock worth $1,431,474,000 after acquiring an additional 1,111,513 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Iron Mountain by 34.0% during the second quarter. JPMorgan Chase & Co. now owns 3,906,191 shares of the financial services provider’s stock worth $120,624,000 after acquiring an additional 990,959 shares during the last quarter. Natixis grew its stake in Iron Mountain by 109.5% in the 2nd quarter. Natixis now owns 1,258,373 shares of the financial services provider’s stock worth $39,387,000 after acquiring an additional 657,795 shares during the period. Finally, California Public Employees Retirement System grew its stake in Iron Mountain by 24.7% in the 2nd quarter. California Public Employees Retirement System now owns 1,982,765 shares of the financial services provider’s stock worth $62,061,000 after acquiring an additional 392,558 shares during the period. 85.25% of the stock is currently owned by institutional investors.

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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Iron Mountain (NYSE:IRM)

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