Iron Mountain (NYSE:IRM) Downgraded to Sell Rating by StockNews.com

StockNews.com cut shares of Iron Mountain (NYSE:IRM) from a hold rating to a sell rating in a report issued on Friday.

Other analysts also recently issued reports about the stock. Wells Fargo & Company cut their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada increased their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. dropped their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Finally, Barclays dropped their price target on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $127.67.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $86.68 on Friday. The company has a 50-day moving average of $98.28 and a 200 day moving average of $110.08. The firm has a market cap of $25.46 billion, a price-to-earnings ratio of 142.09, a PEG ratio of 5.15 and a beta of 1.04. Iron Mountain has a 1 year low of $73.53 and a 1 year high of $130.24.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 EPS 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 for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period last year, the company posted $0.52 earnings per share. On average, equities analysts anticipate that Iron Mountain will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a $0.785 dividend. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.62%. Iron Mountain’s dividend payout ratio (DPR) is presently 514.75%.

Insider Buying and Selling

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the sale, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 327,242 shares of company stock valued at $31,530,305. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Iron Mountain

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in Iron Mountain by 2.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock worth $6,402,000 after acquiring an additional 1,446 shares during the period. Merit Financial Group LLC raised its position in shares of Iron Mountain by 91.5% during the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock valued at $1,570,000 after buying an additional 7,137 shares during the last quarter. Tidal Investments LLC raised its position in shares of Iron Mountain by 254.1% during the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock valued at $2,440,000 after buying an additional 14,737 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Iron Mountain by 151.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock valued at $961,000 after buying an additional 5,511 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Iron Mountain during the third quarter valued at approximately $24,122,000. 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.