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

Shares of Iron Mountain Incorporated (NYSE:IRM) have received a consensus rating of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $115.50.

Several research analysts have issued reports on the company. Wells Fargo & Company upped their price target on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. The Goldman Sachs Group lifted their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Barclays lifted their price objective on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus lifted their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd.

Iron Mountain Price Performance

NYSE IRM opened at $127.60 on Wednesday. The stock has a market capitalization of $37.43 billion, a P/E ratio of 163.59, a P/E/G ratio of 7.42 and a beta of 1.00. Iron Mountain has a 1 year low of $57.36 and a 1 year high of $130.24. The business’s fifty day moving average is $117.85 and its two-hundred day moving average is $99.34. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.59). The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. Iron Mountain’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 EPS. On average, research analysts forecast that Iron Mountain will post 4.17 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were issued a dividend of $0.715 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Monday, September 16th. Iron Mountain’s payout ratio is currently 366.67%.

Insider Activity

In related news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,697,484. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO John Tomovcsik sold 2,866 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $105.00, for a total value of $300,930.00. Following the completion of the sale, the chief operating officer now directly owns 15,000 shares in the company, valued at approximately $1,575,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,697,484. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,503 shares of company stock worth $3,511,505 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Iron Mountain during the 2nd quarter worth $32,000. West Branch Capital LLC acquired a new position in Iron Mountain during the 3rd quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Iron Mountain during the 2nd quarter worth $36,000. Headlands Technologies LLC acquired a new position in Iron Mountain during the 1st quarter worth $38,000. Finally, Family Firm Inc. acquired a new position in Iron Mountain during the 2nd quarter worth $45,000. Institutional investors and hedge funds 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.