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

Iron Mountain Incorporated (NYSE:IRM) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $118.8333.

A number of brokerages have recently issued reports on IRM. Barclays upped their target price on shares of Iron Mountain from $122.00 to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Jefferies Financial Group initiated coverage on Iron Mountain in a research report on Monday, September 22nd. They set a “buy” rating and a $120.00 target price for the company. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th.

Insider Buying and Selling

In related news, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $102.51, for a total transaction of $615,060.00. Following the completion of the transaction, the executive vice president owned 67,081 shares in the company, valued at approximately $6,876,473.31. The trade was a 8.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $102.75, for a total transaction of $7,102,593.75. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 226,681 shares of company stock valued at $22,265,632. 1.90% of the stock is currently owned by insiders.

Institutional Trading of Iron Mountain

A number of large investors have recently made changes to their positions in the company. Quent Capital LLC bought a new stake in shares of Iron Mountain in the third quarter worth about $27,000. Financial Network Wealth Advisors LLC bought a new stake in Iron Mountain during the 1st quarter worth approximately $26,000. Johnson Financial Group Inc. acquired a new stake in Iron Mountain during the 3rd quarter worth approximately $32,000. Ramirez Asset Management Inc. bought a new position in Iron Mountain in the first quarter valued at approximately $34,000. Finally, Wealth Watch Advisors INC acquired a new position in shares of Iron Mountain in the third quarter valued at approximately $44,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM opened at $91.29 on Friday. The company has a market cap of $26.98 billion, a price-to-earnings ratio of 652.12 and a beta of 1.06. The stock has a fifty day moving average price of $101.79 and a two-hundred day moving average price of $98.69. Iron Mountain has a 52-week low of $72.33 and a 52-week high of $125.38.

Iron Mountain (NYSE:IRM) last announced its earnings results on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.03. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the company posted $1.13 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. As a group, research analysts predict that Iron Mountain will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th will be given a dividend of $0.864 per share. The ex-dividend date is Monday, December 15th. This represents a $3.46 annualized dividend and a dividend yield of 3.8%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.79. Iron Mountain’s dividend payout ratio is presently 650.94%.

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.