Iron Mountain Incorporated (NYSE:IRM) Given Average Recommendation of "Buy" by Analysts

Shares of Iron Mountain Incorporated (NYSE:IRM - Get Free Report) have been given a consensus rating of "Buy" by the eight brokerages that are covering the stock, MarketBeat Ratings reports. Seven 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 target among brokers that have covered the stock in the last year is $121.29.

Several equities research analysts recently commented on the company. Truist Financial assumed coverage on Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective for the company. Wells Fargo & Company reduced their price target on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. JPMorgan Chase & Co. dropped their target price on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. Finally, Barclays cut their target price on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a research report on Thursday, March 20th.

Insiders Place Their Bets

In other news, CAO Daniel Borges sold 6,433 shares of the firm'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 transaction, the chief accounting officer now owns 288 shares of the company's stock, valued at $26,737.92. This trade represents a 95.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $96.09, for a total value of $6,642,221.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 318,973 shares of company stock worth $29,112,345. Company insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Iron Mountain

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund increased its stake in shares of Iron Mountain by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider's stock worth $2,644,000 after purchasing an additional 100 shares in the last quarter. Premier Path Wealth Partners LLC boosted its holdings in Iron Mountain by 3.9% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider's stock worth $299,000 after buying an additional 106 shares during the period. Whittier Trust Co. increased its stake in Iron Mountain by 3.4% in the 1st quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider's stock worth $281,000 after buying an additional 108 shares in the last quarter. Belpointe Asset Management LLC raised its holdings in Iron Mountain by 1.6% during the fourth quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider's stock valued at $821,000 after acquiring an additional 112 shares during the period. Finally, Mather Group LLC. lifted its position in shares of Iron Mountain by 4.6% in the fourth quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider's stock valued at $271,000 after acquiring an additional 113 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

NYSE:IRM opened at $100.69 on Friday. The firm has a 50-day simple moving average of $87.89 and a two-hundred day simple moving average of $100.14. The firm has a market cap of $29.71 billion, a P/E ratio of 165.06, a P/E/G ratio of 5.15 and a beta of 1.08. Iron Mountain has a fifty-two week low of $72.33 and a fifty-two week high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.16 by $0.01. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the business earned $1.10 EPS. The firm's revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities research analysts predict that Iron Mountain will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be issued a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a yield of 3.12%. Iron Mountain's dividend payout ratio is currently 765.85%.

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.

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