Iron Mountain (NYSE:IRM) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Iron Mountain from “hold” to “buy,” adding to a generally positive analyst tone on the stock. Overall, analysts now show a Moderate Buy consensus with an average price target of $131.67.
• Iron Mountain reported better-than-expected quarterly results, with EPS of $0.60 versus the $0.50 estimate and revenue of $1.94 billion topping forecasts. Revenue also rose 21.5% year over year, and the company issued FY 2026 EPS guidance of 5.790-5.860.
• The stock recently traded at $124.82, near its 52-week high of $134.09, while institutional ownership remained strong at 80.13%. Insider selling was notable, including CEO William L. Meaney and CAO Daniel Borges, with insiders selling 202,985 shares over the last three months.

Iron Mountain (NYSE:IRM - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

Several other equities research analysts have also issued reports on the company. Truist Financial set a $140.00 price target on Iron Mountain in a report on Friday, May 1st. Loop Capital set a $130.00 price target on Iron Mountain in a report on Wednesday, March 4th. Zacks Research upgraded Iron Mountain from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 12th. Weiss Ratings reissued a "hold (c)" rating on shares of Iron Mountain in a research note on Tuesday, April 21st. Finally, Barclays raised their price objective on Iron Mountain from $126.00 to $127.00 and gave the company an "overweight" rating in a research note on Monday, February 23rd. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $131.67.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $124.82 on Friday. The firm has a market cap of $37.14 billion, a price-to-earnings ratio of 137.16 and a beta of 1.19. Iron Mountain has a 52-week low of $77.77 and a 52-week high of $134.09. The stock has a 50-day simple moving average of $118.50 and a 200-day simple moving average of $102.42.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.10. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.86 billion. Iron Mountain had a negative return on equity of 91.56% and a net margin of 3.76%.The firm's revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.17 EPS. Iron Mountain has set its Q2 2026 guidance at 1.400-1.400 EPS and its FY 2026 guidance at 5.790-5.860 EPS. As a group, equities research analysts predict that Iron Mountain will post 5.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 38,474 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $102.71, for a total value of $3,951,664.54. Following the transaction, the chief executive officer directly owned 38,474 shares of the company's stock, valued at approximately $3,951,664.54. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Daniel Borges sold 7,189 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $125.50, for a total value of $902,219.50. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 202,985 shares of company stock worth $23,452,265 in the last three months. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IRM. Norges Bank bought a new position in Iron Mountain in the 4th quarter worth approximately $368,890,000. Cohen & Steers Inc. increased its position in Iron Mountain by 20.0% in the 4th quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider's stock worth $1,568,110,000 after buying an additional 3,155,034 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Iron Mountain by 597.9% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,161,589 shares of the financial services provider's stock worth $322,292,000 after buying an additional 2,708,560 shares during the period. Principal Financial Group Inc. increased its position in Iron Mountain by 66.5% in the 4th quarter. Principal Financial Group Inc. now owns 4,207,596 shares of the financial services provider's stock worth $349,021,000 after buying an additional 1,680,438 shares during the period. Finally, Invesco Ltd. increased its position in Iron Mountain by 18.1% in the 3rd quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider's stock worth $516,481,000 after buying an additional 776,933 shares during the period. 80.13% of the stock is owned by institutional investors.

Iron Mountain Company Profile

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers' digital transformation.

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.