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

Iron Mountain Incorporated (NYSE:IRM) has been given an average recommendation of “Buy” by the seven research firms that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $125.67.

Several analysts have commented on IRM shares. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Saturday, March 22nd. JPMorgan Chase & Co. dropped their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Barclays decreased their price target on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Finally, Wells Fargo & Company dropped their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mithu Bhargava sold 1,738 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the sale, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 69,131 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. Insiders have sold a total of 318,979 shares of company stock valued at $30,666,904 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Key Financial Inc increased its stake in Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after buying an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC purchased a new position in Iron Mountain in the fourth quarter valued at about $26,000. IMG Wealth Management Inc. purchased a new stake in Iron Mountain during the 4th quarter worth approximately $26,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of Iron Mountain by 46.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 155 shares in the last quarter. Finally, Parkworth Wealth Management Inc. purchased a new position in shares of Iron Mountain during the 4th quarter valued at approximately $53,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Down 0.5 %

NYSE IRM opened at $85.07 on Friday. Iron Mountain has a fifty-two week low of $73.53 and a fifty-two week high of $130.24. The business has a fifty day moving average of $94.97 and a 200-day moving average of $108.39. The stock has a market cap of $24.99 billion, a price-to-earnings ratio of 139.46, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the firm posted $0.52 EPS. As a group, analysts anticipate that Iron Mountain will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Monday, March 17th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is 514.75%.

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.