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

Key Points

• Iron Mountain (NYSE:IRM) has received a consensus rating of "Buy" from eight analysts, with an average twelve-month price target of $121.71.
• The company recently reported a 7.9% year-over-year revenue increase, earning $1.17 EPS for the quarter, slightly exceeding analysts' expectations.
• Insider transactions included CEO William L. Meaney selling over 69,000 shares, reflecting ongoing trading activity among company leaders.

Shares of Iron Mountain Incorporated (NYSE:IRM - Get Free Report) have been assigned an average recommendation of "Buy" from the seven brokerages that are covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $122.00.

IRM has been the topic of a number of analyst reports. Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Barclays boosted their target price on Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Finally, Truist Financial initiated coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price on the stock.

Iron Mountain Trading Down 3.4%

Shares of NYSE:IRM traded down $3.28 on Friday, reaching $94.08. The company had a trading volume of 1,500,940 shares, compared to its average volume of 968,117. Iron Mountain has a 52-week low of $72.33 and a 52-week high of $130.24. The firm's 50 day simple moving average is $99.98 and its 200-day simple moving average is $95.32. The firm has a market capitalization of $27.76 billion, a PE ratio of 229.46 and a beta of 1.07.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.01. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the business posted $1.10 EPS. The business's revenue was up 7.9% compared to the same quarter last year. As a group, equities research analysts predict that Iron Mountain will post 4.54 earnings per share for the current year.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $100.36, for a total transaction of $6,937,385.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Walter C. Rakowich sold 900 shares of Iron Mountain stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $99.97, for a total value of $89,973.00. Following the sale, the director directly owned 36,515 shares of the company's stock, valued at approximately $3,650,404.55. This represents a 2.41% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 170,882 shares of company stock worth $17,007,738. 1.90% of the stock is owned by insiders.

Institutional Trading of Iron Mountain

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRM. Cranbrook Wealth Management LLC acquired a new stake in Iron Mountain during the 1st quarter worth about $26,000. Financial Network Wealth Advisors LLC acquired a new position in shares of Iron Mountain in the 1st quarter valued at about $26,000. Golden State Wealth Management LLC acquired a new position in shares of Iron Mountain in the 1st quarter valued at about $30,000. Ramirez Asset Management Inc. acquired a new position in shares of Iron Mountain in the 1st quarter valued at about $34,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Iron Mountain in the 1st quarter valued at about $37,000. Institutional investors and hedge funds 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.