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

Iron Mountain Incorporated (NYSE:IRM) has been assigned an average recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $73.80.

Several research analysts have weighed in on the company. Stifel Nicolaus boosted their price target on Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Barclays boosted their price target on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Wells Fargo & Company boosted their price target on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Finally, TheStreet lowered Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd.

Insider Transactions at Iron Mountain

In related news, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $67.43, for a total value of $134,860.00. Following the completion of the sale, the executive vice president now directly owns 48,026 shares in the company, valued at approximately $3,238,393.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $67.43, for a total value of $134,860.00. Following the completion of the sale, the executive vice president now directly owns 48,026 shares in the company, valued at approximately $3,238,393.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $68.24, for a total value of $1,083,310.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $20,175,156. The disclosure for this sale can be found here. In the last three months, insiders sold 164,124 shares of company stock worth $12,698,221. 2.20% of the stock is owned by company insiders.

Institutional Trading of Iron Mountain

Several institutional investors have recently added to or reduced their stakes in the company. Cohen & Steers Inc. lifted its position in shares of Iron Mountain by 202.1% during the 4th quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock valued at $1,572,936,000 after acquiring an additional 15,035,937 shares during the period. Moneta Group Investment Advisors LLC bought a new stake in shares of Iron Mountain during the 4th quarter valued at $224,698,000. Norges Bank bought a new stake in shares of Iron Mountain during the 4th quarter valued at $228,391,000. Wellington Management Group LLP lifted its position in shares of Iron Mountain by 315.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock valued at $179,079,000 after acquiring an additional 2,286,711 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Iron Mountain by 60.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after buying an additional 1,546,592 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Stock Up 0.9 %

Shares of Iron Mountain stock opened at $75.10 on Friday. The business’s 50 day simple moving average is $76.56 and its 200 day simple moving average is $68.62. Iron Mountain has a 52-week low of $52.81 and a 52-week high of $82.19. The firm has a market cap of $21.95 billion, a PE ratio of 119.21, a P/E/G ratio of 4.52 and a beta of 0.94. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.48). The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. On average, analysts predict that Iron Mountain will post 4.16 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were paid a dividend of $0.65 per share. The ex-dividend date was Thursday, March 14th. This represents a $2.60 annualized dividend and a dividend yield of 3.46%. Iron Mountain’s dividend payout ratio is currently 412.70%.

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.