JP Morgan Maintains Iron Mountain Inc to Overweight with Price Target $48.00

Brokerage firm JP Morgan Maintains its rating on Iron Mountain Inc(NYSE:IRM). In a research note issued to the investors, the brokerage major Raises the price-target to $48.00 per share. The shares have been rated Overweight. The rating by JP Morgan was issued on Aug 5, 2016.

Iron Mountain Inc (IRM) made into the market gainers list on Wednesdays trading session with the shares advancing 0.24% or 0.09 points. Due to strong positive momentum, the stock ended at $36.96, which is also near the day’s high of $37.17. The stock began the session at $37.03 and the volume stood at 14,85,508 shares. The 52-week high of the shares is $41.5 and the 52 week low is $23.64. The company has a current market capitalization of $9,730 M and it has 26,32,48,640 shares in outstanding.

Iron Mountain Inc has also declared a cash dividend of $0.4850 on Jul 27, 2016. The shares will quote ex-dividend on Sep 28, 2016 and the record date has been fixed on Sep 30, 2016. The dividend payable date has been fixed on Oct 14, 2016.

Iron Mountain Inc(IRM) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $883.75M. Analysts had an estimated revenue of $884.46M. Earnings per share were $0.47. Analysts had estimated an EPS of $0.57.

Several Insider Transactions has been reported to the SEC. On Jul 6, 2016, Anastasios Tsolakis (EVP, CIO, Global Svcs. Officer) sold 7,364 shares at $40.00 per share price.Also, On Jul 6, 2016, Edward Bicks (Sr.VP & Chief Strategy Officer) sold 1,459 shares at $40.25 per share price.On Jul 6, 2016, Ernest W Cloutier (EVP, Gen. Counsel, Secretary) sold 134,462 shares at $39.91 per share price, according to the Form-4 filing with the securities and exchange commission.

Iron Mountain Inc. is a holding company which stores records primarily paper documents and data backup media and provide information management services. The Company has five segments: North American Records and Information Management Business North American Data Management Business Western European Business Other International Business and Corporate and Other Business. It offers records and information management services and data management services. Its customer base includes commercial legal banking healthcare accounting insurance entertainment and government organizations. As of December 31 2014 the Company’s courier fleet consisted of approximately 3600 owned or leased vehicles. Its other services include secure shredding document management solutions (DMS) compliant records management and consulting services health information storage and management solutions entertainment services energy data services discovery services and other ancillary services.

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