Iron Mountain (NYSE:IRM) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Iron Mountain (NYSE:IRM) from a buy rating to a hold rating in a report issued on Saturday morning.

Several other research firms also recently weighed in on IRM. JPMorgan Chase & Co. lifted their price target on shares of Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Weiss Ratings downgraded Iron Mountain from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 9th. Truist Financial set a $140.00 target price on Iron Mountain in a research report on Friday, May 1st. Barclays upped their price target on Iron Mountain from $127.00 to $143.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Finally, Wells Fargo & Company increased their price target on Iron Mountain from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Iron Mountain has a consensus rating of “Moderate Buy” and an average price target of $134.33.

Iron Mountain Stock Down 1.0%

Shares of IRM stock opened at $127.04 on Friday. The company has a market cap of $37.80 billion, a price-to-earnings ratio of 139.61 and a beta of 1.19. Iron Mountain has a 52 week low of $77.77 and a 52 week high of $134.68. The firm has a 50 day moving average of $125.37 and a 200-day moving average of $112.95.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, April 30th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.86 billion. Iron Mountain had a net margin of 3.76% and a negative return on equity of 91.56%. Iron Mountain’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter 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. Analysts anticipate that Iron Mountain will post 5.4 earnings per share for the current year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 15th were issued a dividend of $0.864 per share. This represents a $3.46 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Monday, June 15th. Iron Mountain’s payout ratio is currently 380.22%.

Insider Activity

In other news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $126.70, for a total value of $760,200.00. Following the completion of the sale, the executive vice president directly owned 113,507 shares of the company’s stock, valued at $14,381,336.90. This represents a 5.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 137,260 shares of company stock worth $17,361,672. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

A number of hedge funds have recently bought and sold shares of IRM. Tema ETFs LLC raised its holdings in shares of Iron Mountain by 9.8% in the second quarter. Tema ETFs LLC now owns 12,940 shares of the financial services provider’s stock valued at $1,634,000 after purchasing an additional 1,160 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in Iron Mountain by 24.4% during the second quarter. Handelsbanken Fonder AB now owns 189,498 shares of the financial services provider’s stock worth $23,935,000 after purchasing an additional 37,216 shares during the last quarter. Asset Advisory Group Inc. bought a new stake in Iron Mountain in the 2nd quarter worth about $234,000. Legacy Wealth Asset Management LLC bought a new stake in Iron Mountain in the 2nd quarter worth about $408,000. Finally, Allied Private Wealth LLC purchased a new stake in Iron Mountain in the 2nd quarter valued at about $686,000. 80.13% of the stock is owned by hedge funds and other 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.