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

Iron Mountain Incorporated (NYSE:IRM) has been given a consensus recommendation of “Buy” by the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $127.67.

Several research firms have commented on IRM. JPMorgan Chase & Co. lowered their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Royal Bank of Canada lifted their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Barclays lowered their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company lowered their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th.

Insider Transactions at Iron Mountain

In related news, EVP Mithu Bhargava sold 1,738 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the sale, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,872 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total transaction of $1,793,377.28. The disclosure for this sale can be found here. Insiders have sold a total of 343,114 shares of company stock valued at $33,323,682 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Iron Mountain

Several institutional investors have recently made changes to their positions in IRM. IMG Wealth Management Inc. bought a new stake in Iron Mountain in the 4th quarter valued at $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Iron Mountain in the 4th quarter valued at $26,000. Key Financial Inc boosted its stake in shares of Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 251 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Iron Mountain in the 3rd quarter valued at $31,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in shares of Iron Mountain in the 3rd quarter valued at $36,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Down 1.3 %

IRM stock opened at $83.26 on Tuesday. The firm’s 50-day simple moving average is $99.84 and its 200 day simple moving average is $110.82. The stock has a market cap of $24.46 billion, a PE ratio of 136.48, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain has a fifty-two week low of $73.53 and a fifty-two week high of $130.24.

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 the consensus estimate of $1.20 by ($0.70). The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same period in the previous year, the business posted $0.52 EPS. Equities analysts forecast that Iron Mountain will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a $0.785 dividend. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Monday, March 17th. Iron Mountain’s dividend payout ratio (DPR) is 514.75%.

About Iron Mountain

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.