Iron Mountain (NYSE:IRM) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Iron Mountain (NYSE:IRM) from a sell rating to a hold rating in a report released on Tuesday.

A number of other equities analysts have also recently commented on IRM. JPMorgan Chase & Co. cut their price target 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. 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 research note on Tuesday, February 4th. Finally, Barclays dropped their price target on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Iron Mountain has a consensus rating of “Buy” and a consensus price target of $121.29.

Iron Mountain Price Performance

NYSE IRM opened at $76.86 on Tuesday. The company’s 50 day simple moving average is $90.92 and its two-hundred day simple moving average is $106.43. Iron Mountain has a 1 year low of $72.33 and a 1 year high of $130.24. The stock has a market capitalization of $22.58 billion, a PE ratio of 126.00, a P/E/G ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data 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). The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same period in the prior year, the business posted $0.52 EPS. On average, research analysts anticipate that Iron Mountain will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were issued a $0.785 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 4.09%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s payout ratio is currently 514.75%.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the sale, the chief executive officer now owns 237,402 shares of the company’s stock, valued at $21,681,924.66. This trade represents a 42.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total transaction of $5,952,353.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 318,973 shares of company stock valued at $29,370,872. Insiders own 2.10% of the company’s stock.

Institutional Trading of Iron Mountain

Large investors have recently modified their holdings of the business. Key Financial Inc lifted its holdings in Iron Mountain by 25,100.0% in 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 bought a new position in shares of Iron Mountain during the fourth quarter valued at approximately $26,000. IMG Wealth Management Inc. purchased a new stake in Iron Mountain in the fourth quarter worth $26,000. Franchise Capital Ltd bought a new stake in Iron Mountain in the first quarter valued at $39,000. Finally, Whittier Trust Co. of Nevada Inc. increased its position in Iron Mountain by 46.4% during 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 during the period. 80.13% of the stock is owned by institutional investors.

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.