Iron Mountain (NYSE:IRM) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Iron Mountain (NYSE:IRM) from a sell rating to a hold rating in a research report report published on Saturday morning.

A number of other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Barclays dropped their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Royal Bank of Canada lifted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Finally, Wells Fargo & Company lowered their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $125.67.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $90.14 on Friday. Iron Mountain has a one year low of $73.53 and a one year high of $130.24. The stock has a market capitalization of $26.48 billion, a PE ratio of 147.77, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. The company’s 50-day moving average price is $96.65 and its two-hundred day moving average price is $109.03.

Iron Mountain (NYSE:IRM) last announced its quarterly 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 net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the business earned $0.52 EPS. On average, analysts anticipate that Iron Mountain will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid 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 3.48%. Iron Mountain’s payout ratio is 514.75%.

Insider Buying and Selling at Iron Mountain

In related news, CAO Daniel Borges sold 6,433 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the transaction, the chief accounting officer now owns 288 shares of the company’s stock, valued at $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William L. Meaney sold 172,552 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 237,402 shares in the company, valued at $21,681,924.66. The trade was a 42.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 318,979 shares of company stock valued at $30,666,904 in the last quarter. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Iron Mountain

A number of institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in Iron Mountain by 2.8% during the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock worth $6,402,000 after purchasing an additional 1,446 shares during the last quarter. Merit Financial Group LLC lifted its position in shares of Iron Mountain by 91.5% during the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock worth $1,570,000 after buying an additional 7,137 shares during the last quarter. Tidal Investments LLC boosted its stake in Iron Mountain by 254.1% in the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock valued at $2,440,000 after buying an additional 14,737 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Iron Mountain by 151.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock valued at $961,000 after acquiring an additional 5,511 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in Iron Mountain during the third quarter worth about $24,122,000. Institutional investors own 80.13% of the company’s stock.

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.