Iron Mountain Incorporated (NYSE:IRM) Given Consensus Rating of “Moderate Buy” by Brokerages

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

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

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $68.24, for a total value of $1,083,310.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $20,175,156. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was 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 directly owns 295,650 shares of the company’s stock, valued at approximately $20,175,156. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Deborah Marson sold 2,000 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $78.48, for a total value of $156,960.00. Following the completion of the sale, the executive vice president now directly owns 65,286 shares of the company’s stock, valued at $5,123,645.28. The disclosure for this sale can be found here. Insiders have sold 164,124 shares of company stock valued at $12,698,221 in the last quarter. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC raised its holdings in Iron Mountain by 92.2% during the third quarter. Harbor Investment Advisory LLC now owns 417 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 200 shares during the last quarter. Manchester Capital Management LLC boosted its position in shares of Iron Mountain by 6,983.3% in the 3rd quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock worth $25,000 after buying an additional 419 shares in the last quarter. Blue Trust Inc. raised its position in Iron Mountain by 201.7% during the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 242 shares during the last quarter. First Capital Advisors Group LLC. purchased a new stake in shares of Iron Mountain in the second quarter valued at about $25,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $26,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

Shares of IRM stock opened at $75.15 on Friday. The company has a debt-to-equity ratio of 55.78, a current ratio of 0.78 and a quick ratio of 0.78. The business has a fifty day moving average of $76.31 and a 200 day moving average of $68.47. The firm has a market capitalization of $21.96 billion, a price-to-earnings ratio of 119.29, a price-to-earnings-growth ratio of 4.50 and a beta of 0.94. Iron Mountain has a 1 year low of $52.05 and a 1 year high of $82.19.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.48). Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the company earned $0.98 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. As a group, research analysts expect that Iron Mountain will post 4.16 earnings per share for the current year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors 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 yield of 3.46%. Iron Mountain’s payout ratio is 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.