Iron Mountain Incorporated (NYSE:IRM) Receives Consensus Rating of “Buy” from Analysts

Shares of Iron Mountain Incorporated (NYSE:IRM) have been assigned an average rating of “Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $125.67.

A number of equities analysts have commented on IRM shares. JPMorgan Chase & Co. decreased their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Wells Fargo & Company lowered their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Saturday, March 22nd. Finally, Barclays lowered their target price on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, March 20th.

Insider Activity

In other news, CEO William L. Meaney sold 172,552 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the transaction, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at approximately $21,681,924.66. This trade represents a 42.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 318,979 shares of company stock valued at $30,666,904. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

Large investors have recently bought and sold shares of the stock. Key Financial Inc boosted its holdings in shares of Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC acquired a new stake in Iron Mountain in the fourth quarter worth approximately $26,000. IMG Wealth Management Inc. acquired a new stake in Iron Mountain in the fourth quarter worth approximately $26,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Iron Mountain by 46.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 155 shares in the last quarter. Finally, Parkworth Wealth Management Inc. acquired a new position in shares of Iron Mountain during the 4th quarter valued at $53,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM stock opened at $85.07 on Friday. The stock has a market capitalization of $24.99 billion, a price-to-earnings ratio of 139.46, a PEG ratio of 5.15 and a beta of 1.04. Iron Mountain has a one year low of $73.53 and a one year high of $130.24. The company’s 50-day simple moving average is $94.97 and its 200-day simple moving average is $108.39.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the business earned $0.52 EPS. As a group, research analysts forecast that Iron Mountain will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be given a $0.785 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.69%. Iron Mountain’s dividend payout ratio is 514.75%.

Iron Mountain Company Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers’ work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.