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

Shares of Iron Mountain Incorporated (NYSE:IRM) have been given a consensus recommendation of “Buy” by the eight analysts that are presently covering the stock, MarketBeat Ratings reports. Seven investment 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 objective among brokerages that have issued a report on the stock in the last year is $121.71.

IRM has been the subject of several analyst reports. Wall Street Zen raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Friday, April 18th. Truist Financial started coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They set a “buy” rating and a $95.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Finally, Barclays boosted their price objective on shares of Iron Mountain from $118.00 to $121.00 and gave the company an “overweight” rating in a research report on Tuesday, May 27th.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $102.07 on Thursday. The stock has a market cap of $30.11 billion, a price-to-earnings ratio of 167.33, a PEG ratio of 5.15 and a beta of 1.09. Iron Mountain has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The firm’s 50-day simple moving average is $93.92 and its 200 day simple moving average is $97.10.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.01. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter last year, the business posted $1.10 EPS. Iron Mountain’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts predict that Iron Mountain will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be paid a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain’s payout ratio is currently 765.85%.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $96.09, for a total transaction of $6,642,221.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Greg W. Mcintosh sold 8,398 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $96.14, for a total transaction of $807,383.72. Following the sale, the executive vice president now directly owns 70,114 shares of the company’s stock, valued at approximately $6,740,759.96. This represents a 10.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 216,673 shares of company stock valued at $20,319,408 over the last quarter. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Key Financial Inc boosted its holdings in shares of Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after buying an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Iron Mountain during the 4th quarter valued at approximately $26,000. IMG Wealth Management Inc. purchased a new position in shares of Iron Mountain during the 4th quarter valued at approximately $26,000. Cranbrook Wealth Management LLC purchased a new stake in Iron Mountain in the 1st quarter worth $26,000. Finally, Financial Network Wealth Advisors LLC purchased a new stake in Iron Mountain in the 1st quarter worth $26,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

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.