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

Iron Mountain Incorporated (NYSE:IRM) has been given an average rating of “Moderate Buy” by the six brokerages that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $135.1667.

Several brokerages have issued reports on IRM. Truist Financial set a $140.00 price target on Iron Mountain in a report on Friday, May 1st. Wells Fargo & Company increased their target price on Iron Mountain from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday. Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Barclays lifted their price target on shares of Iron Mountain from $127.00 to $143.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings raised shares of Iron Mountain from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, July 28th.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 38,474 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $121.67, for a total transaction of $4,681,131.58. Following the sale, the chief executive officer directly owned 38,474 shares of the company’s stock, valued at approximately $4,681,131.58. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Walter C. Rakowich sold 757 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $124.45, for a total transaction of $94,208.65. Following the completion of the sale, the director owned 1,135 shares of the company’s stock, valued at $141,250.75. This trade represents a 40.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 135,368 shares of company stock valued at $16,807,080 over the last quarter. 1.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bell Investment Advisors Inc bought a new position in shares of Iron Mountain during the second quarter worth approximately $26,000. Meeder Asset Management Inc. bought a new stake in Iron Mountain in the 2nd quarter valued at $27,000. IMG Wealth Management Inc. bought a new stake in Iron Mountain in the 2nd quarter valued at $34,000. Elevation Wealth Partners LLC grew its holdings in Iron Mountain by 444.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 283 shares of the financial services provider’s stock valued at $36,000 after buying an additional 231 shares in the last quarter. Finally, Dynamic Wealth Strategies LLC bought a new position in Iron Mountain during the 1st quarter worth $31,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Trading Up 0.1%

Shares of IRM opened at $121.30 on Tuesday. Iron Mountain has a 1 year low of $77.77 and a 1 year high of $134.68. The stock has a market cap of $36.09 billion, a P/E ratio of 86.64 and a beta of 1.20. The stock’s 50-day moving average price is $124.73 and its two-hundred day moving average price is $115.21.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be issued a $0.864 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.8%. Iron Mountain’s dividend payout ratio (DPR) is 247.14%.

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.