Iron Mountain (NYSE:IRM) Stock Rating Lowered by StockNews.com

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

IRM has been the topic of several other research reports. Barclays cut their target price 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. JPMorgan Chase & Co. lowered their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company reduced their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $125.67.

Iron Mountain Stock Performance

Shares of IRM stock opened at $86.14 on Monday. Iron Mountain has a 52 week low of $73.53 and a 52 week high of $130.24. The stock has a market capitalization of $25.30 billion, a PE ratio of 141.21, a PEG ratio of 5.15 and a beta of 1.04. The stock’s fifty day moving average is $94.51 and its 200-day moving average is $108.10.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (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 analyst estimates of $1.60 billion. During the same period last year, the company earned $0.52 EPS. As a group, analysts forecast that Iron Mountain will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be given a dividend of $0.785 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.65%. Iron Mountain’s payout ratio is 514.75%.

Insider Activity at Iron Mountain

In other news, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,131 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 318,979 shares of company stock valued at $30,666,904. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Iron Mountain

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

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.