Iron Mountain Incorporated (NYSE:IRM) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Iron Mountain Incorporated (NYSE:IRM) have received a consensus rating of “Buy” from the seven research firms that are 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 target among brokers that have updated their coverage on the stock in the last year is $125.67.

Several equities research analysts have commented on IRM shares. StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Monday, March 31st. JPMorgan Chase & Co. dropped their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Wells Fargo & Company reduced their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, Barclays decreased their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th.

Insiders Place Their Bets

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 shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the transaction, the chief accounting officer now owns 288 shares in the company, valued at approximately $26,737.92. This represents a 95.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,211,933.36. This trade represents a 11.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 318,973 shares of company stock worth $29,370,872. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Iron Mountain

Several hedge funds and other institutional investors have recently modified their holdings of IRM. Geller Advisors LLC lifted its stake in Iron Mountain by 2.9% in the third quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock valued at $403,000 after acquiring an additional 96 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Iron Mountain by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider’s stock valued at $2,644,000 after purchasing an additional 100 shares in the last quarter. Premier Path Wealth Partners LLC lifted its stake in shares of Iron Mountain by 3.9% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider’s stock valued at $299,000 after purchasing an additional 106 shares during the last quarter. Belpointe Asset Management LLC boosted its holdings in Iron Mountain by 1.6% in the fourth quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider’s stock worth $821,000 after purchasing an additional 112 shares in the last quarter. Finally, Mather Group LLC. increased its position in Iron Mountain by 4.6% during the fourth quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider’s stock worth $271,000 after buying an additional 113 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Price Performance

NYSE IRM opened at $77.31 on Friday. Iron Mountain has a 12 month low of $73.53 and a 12 month high of $130.24. The firm has a market capitalization of $22.71 billion, a PE ratio of 126.74, a P/E/G ratio of 5.15 and a beta of 0.97. The company’s 50 day simple moving average is $92.35 and its 200 day simple moving average is $107.29.

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). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the business posted $0.52 earnings per share. Sell-side analysts anticipate that Iron Mountain will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 17th were given a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 4.06%. The ex-dividend date was Monday, March 17th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is 514.75%.

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.