Iron Mountain Incorporated (NYSE:IRM) Receives Average Recommendation of “Buy” from Analysts

Iron Mountain Incorporated (NYSE:IRM) has received an average rating of “Buy” from the seven analysts that are presently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $127.67.

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of 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 cut their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Barclays cut their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada upped their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th.

Iron Mountain Stock Down 1.3 %

Shares of NYSE IRM opened at $83.26 on Tuesday. The firm’s 50-day simple moving average is $99.84 and its 200 day simple moving average is $110.82. The company has a market cap of $24.46 billion, a price-to-earnings ratio of 136.48, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain has a 12-month low of $73.53 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (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 quarter last year, the company earned $0.52 EPS. On average, 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 will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a $0.785 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.77%. Iron Mountain’s dividend payout ratio is 514.75%.

Insider Buying and Selling

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 288 shares of the company’s stock, valued at $26,737.92. This represents a 95.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 172,552 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the transaction, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at approximately $21,681,924.66. This trade represents a 42.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 343,114 shares of company stock valued at $33,323,682. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Iron Mountain

A number of large investors have recently bought and sold shares of IRM. Key Financial Inc boosted its position in Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Iron Mountain in the 4th quarter valued at approximately $26,000. IMG Wealth Management Inc. acquired a new stake in shares of Iron Mountain in the 4th quarter valued at approximately $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Iron Mountain in the 3rd quarter valued at approximately $31,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in shares of Iron Mountain in the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

About Iron Mountain

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.