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

Shares of Iron Mountain Incorporated (NYSE:IRM - Get Free Report) have been assigned a consensus recommendation of "Buy" from the eight brokerages that are covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $121.29.

A number of brokerages have issued reports on IRM. JPMorgan Chase & Co. lowered their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. Wells Fargo & Company lowered their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. Truist Financial began coverage on Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price target on the stock. Barclays lowered their price target on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research report on Thursday, March 20th. Finally, StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th.

Insider Activity at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total value of $6,900,748.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 318,973 shares of company stock valued at $29,370,872. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Iron Mountain

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rosenberg Matthew Hamilton increased its stake in Iron Mountain by 56.3% during the first quarter. Rosenberg Matthew Hamilton now owns 1,680 shares of the financial services provider's stock worth $145,000 after acquiring an additional 605 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Iron Mountain by 117.7% in the first quarter. Principal Financial Group Inc. now owns 904,184 shares of the financial services provider's stock valued at $77,796,000 after buying an additional 488,816 shares in the last quarter. Mutual Advisors LLC grew its stake in shares of Iron Mountain by 7.9% in the first quarter. Mutual Advisors LLC now owns 130,443 shares of the financial services provider's stock valued at $11,442,000 after buying an additional 9,598 shares in the last quarter. Teacher Retirement System of Texas grew its stake in shares of Iron Mountain by 60.4% in the first quarter. Teacher Retirement System of Texas now owns 57,824 shares of the financial services provider's stock valued at $4,975,000 after buying an additional 21,775 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Iron Mountain by 2.6% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 94,965 shares of the financial services provider's stock valued at $8,171,000 after buying an additional 2,395 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Stock Performance

Iron Mountain stock traded up $0.76 during midday trading on Wednesday, hitting $88.48. 1,473,926 shares of the company were exchanged, compared to its average volume of 1,835,073. The firm has a market capitalization of $26.10 billion, a PE ratio of 145.05, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. Iron Mountain has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The business has a fifty day simple moving average of $85.99 and a two-hundred day simple moving average of $102.82.

Iron Mountain (NYSE:IRM - Get Free Report) last posted 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 negative return on equity of 401.83% and a net margin of 2.95%. During the same period last year, the business earned $0.52 earnings per share. As a group, equities analysts expect that Iron Mountain will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 17th were issued a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Monday, March 17th. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio (DPR) is currently 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.