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

Key Points

• Iron Mountain Incorporated has received a consensus rating of "Buy" from eight ratings firms, with one firm rating it as "hold," six as "buy," and one as "strong buy."
• The average one-year price target for Iron Mountain shares among brokers is $116.83, indicating potential for investment growth.
• Iron Mountain recently declared a quarterly dividend of $0.785 per share, representing an annualized yield of 3.0%, despite a high dividend payout ratio of 2,242.86%.

Shares of Iron Mountain Incorporated (NYSE:IRM - Get Free Report) have earned a consensus rating of "Buy" from the eight ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $116.8333.

Several brokerages have recently issued reports on IRM. Barclays lifted their target price on Iron Mountain from $121.00 to $122.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. dropped their price target on Iron Mountain from $112.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Jefferies Financial Group initiated coverage on Iron Mountain in a research report on Monday, September 22nd. They issued a "buy" rating and a $120.00 price target for the company. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Iron Mountain in a research report on Wednesday, October 8th.

Iron Mountain Trading Up 1.1%

Shares of IRM stock opened at $103.31 on Wednesday. Iron Mountain has a 12-month low of $72.33 and a 12-month high of $130.24. The stock's 50-day moving average price is $96.79 and its 200-day moving average price is $95.68. The stock has a market capitalization of $30.51 billion, a price-to-earnings ratio of 738.01 and a beta of 1.06.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.05. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The firm had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the previous year, the firm posted $1.08 earnings per share. The business's revenue was up 11.6% compared to the same quarter last year. As a group, research analysts predict that Iron Mountain will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 15th were given a $0.785 dividend. The ex-dividend date was Monday, September 15th. This represents a $3.14 annualized dividend and a yield of 3.0%. Iron Mountain's dividend payout ratio (DPR) is currently 2,242.86%.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $94.55, for a total value of $6,535,768.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total value of $7,074,252.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 213,375 shares of company stock worth $20,347,156. Corporate insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Financial Network Wealth Advisors LLC purchased a new position in shares of Iron Mountain during the first quarter valued at approximately $26,000. Golden State Wealth Management LLC purchased a new position in shares of Iron Mountain during the first quarter valued at approximately $30,000. Ramirez Asset Management Inc. purchased a new position in shares of Iron Mountain during the first quarter valued at approximately $34,000. Wayfinding Financial LLC purchased a new position in shares of Iron Mountain during the first quarter valued at approximately $37,000. Finally, Richards Merrill & Peterson Inc. purchased a new stake in shares of Iron Mountain in the first quarter valued at approximately $43,000. Hedge funds and other 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.

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