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

Iron Mountain Incorporated (NYSE:IRM) has been assigned an average rating of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $78.33.

Several research firms have recently commented on IRM. The Goldman Sachs Group boosted their target price on shares of Iron Mountain from $89.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Barclays increased their price objective on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Finally, Wells Fargo & Company lifted their target price on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, March 15th.

Insiders Place Their Bets

In other news, Director Walter C. Rakowich sold 954 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $81.33, for a total transaction of $77,588.82. Following the completion of the sale, the director now owns 35,166 shares in the company, valued at approximately $2,860,050.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Walter C. Rakowich sold 954 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $81.33, for a total transaction of $77,588.82. Following the completion of the transaction, the director now owns 35,166 shares in the company, valued at approximately $2,860,050.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wendy J. Murdock sold 1,500 shares of Iron Mountain stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $75.35, for a total value of $113,025.00. Following the completion of the sale, the director now directly owns 24,491 shares of the company’s stock, valued at approximately $1,845,396.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,053 shares of company stock valued at $8,429,641. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Iron Mountain

A number of institutional investors have recently modified their holdings of IRM. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Iron Mountain in the third quarter worth $178,000. Federated Hermes Inc. lifted its holdings in Iron Mountain by 10.0% during the 3rd quarter. Federated Hermes Inc. now owns 4,420 shares of the financial services provider’s stock worth $263,000 after purchasing an additional 403 shares in the last quarter. Natixis Advisors L.P. boosted its stake in Iron Mountain by 16.9% in the 3rd quarter. Natixis Advisors L.P. now owns 158,076 shares of the financial services provider’s stock worth $9,398,000 after purchasing an additional 22,816 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in Iron Mountain by 14.4% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 7,776 shares of the financial services provider’s stock valued at $462,000 after buying an additional 979 shares in the last quarter. Finally, MQS Management LLC bought a new stake in shares of Iron Mountain during the third quarter valued at about $202,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

Shares of IRM stock opened at $89.69 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63. The firm has a fifty day simple moving average of $82.53 and a two-hundred day simple moving average of $76.20. Iron Mountain has a 12 month low of $56.28 and a 12 month high of $90.40. The firm has a market capitalization of $26.29 billion, a PE ratio of 135.90, a price-to-earnings-growth ratio of 5.31 and a beta of 0.98.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Monday, June 17th. Iron Mountain’s dividend payout ratio is presently 393.95%.

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.