Iron Mountain Incorporated (NYSE:IRM) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Iron Mountain, with five buy ratings and two holds. The average 12-month price target is $139.83, above the reported opening price of $111.32.
• Iron Mountain beat quarterly expectations, reporting $0.60 EPS versus the $0.54 consensus and $2.03 billion in revenue, up 18.5% year over year. The company also declared a quarterly dividend of $0.864 per share, representing a 3.1% annualized yield.
• Insiders sold 93,948 shares worth approximately $11.1 million over the past 90 days, including significant sales by the CEO and an executive vice president. Institutional investors and hedge funds collectively own 80.13% of the stock.

Shares of Iron Mountain Incorporated (NYSE:IRM - Get Free Report) have been given an average recommendation of "Moderate Buy" by the seven brokerages that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $139.83.

IRM has been the subject of a number of recent analyst reports. Barclays raised their price objective on Iron Mountain from $143.00 to $144.00 and gave the company an "overweight" rating in a research report on Tuesday, September 8th. Truist Financial boosted their target price on Iron Mountain from $140.00 to $155.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. Weiss Ratings cut Iron Mountain from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 25th. Wall Street Zen downgraded Iron Mountain from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Finally, Rothschild & Co Redburn assumed coverage on shares of Iron Mountain in a research report on Monday, September 21st. They set a "buy" rating and a $132.00 price objective for the company.

Iron Mountain Price Performance

Iron Mountain stock opened at $111.32 on Wednesday. The company's 50-day moving average is $119.64 and its 200-day moving average is $119.27. The firm has a market capitalization of $33.14 billion, a PE ratio of 79.52 and a beta of 1.18. Iron Mountain has a fifty-two week low of $77.77 and a fifty-two week high of $134.68.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.06. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period last year, the business posted $1.24 EPS. Iron Mountain's revenue was up 18.5% on a year-over-year basis. Iron Mountain has set its Q3 2026 guidance at 1.470-1.470 EPS and its FY 2026 guidance at 5.870-5.930 EPS. As a group, analysts expect that Iron Mountain will post 5.42 EPS for the current year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.8640 per share. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 15th. Iron Mountain's dividend payout ratio (DPR) is currently 247.14%.

Insider Buying and Selling

In related news, EVP Greg McIntosh sold 5,000 shares of the company's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $115.60, for a total value of $578,000.00. Following the transaction, the executive vice president owned 75,634 shares in the company, valued at approximately $8,743,290.40. This represents a 6.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Meaney sold 38,474 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $114.08, for a total transaction of $4,389,113.92. Following the completion of the transaction, the chief executive officer directly owned 38,474 shares in the company, valued at approximately $4,389,113.92. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 93,948 shares of company stock valued at $11,078,046. Company insiders own 1.70% of the company's stock.

Institutional Trading of Iron Mountain

Hedge funds have recently added to or reduced their stakes in the company. Bell Investment Advisors Inc bought a new position in Iron Mountain during the 2nd quarter worth $26,000. Meeder Asset Management Inc. acquired a new stake in shares of Iron Mountain during the second quarter worth $27,000. Wellington Altus USA Inc. acquired a new position in shares of Iron Mountain in the second quarter valued at about $27,000. Beaird Harris Wealth Management LLC increased its position in Iron Mountain by 17,500.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider's stock worth $29,000 after acquiring an additional 350 shares during the period. Finally, Dynamic Wealth Strategies LLC bought a new position in Iron Mountain during the first quarter worth about $31,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Company Profile

Iron Mountain Incorporated NYSE: IRM is a global information management and data center services company. It helps organizations protect, manage and access physical and digital information, including business records, documents, backup media and other critical assets.

The company provides records storage and retrieval, secure shredding and destruction, information governance, digitization, document management and data migration services. Iron Mountain also operates data centers and offers colocation, hybrid cloud and related infrastructure services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.