Iron Mountain Incorporated (NYSE:IRM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Iron Mountain Incorporated (NYSE:IRM) have been given a consensus rating of “Moderate Buy” by the five ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $73.80.

A number of analysts have recently issued reports on IRM shares. TheStreet lowered Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. Stifel Nicolaus increased their target price on Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Barclays increased their target price on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Finally, Wells Fargo & Company increased their target price on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, March 15th.

Insider Transactions at Iron Mountain

In other news, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $78.48, for a total value of $156,960.00. Following the transaction, the executive vice president now directly owns 65,286 shares of the company’s stock, valued at $5,123,645.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $78.48, for a total transaction of $156,960.00. Following the transaction, the executive vice president now directly owns 65,286 shares of the company’s stock, valued at $5,123,645.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 115,979 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $78.90, for a total transaction of $9,150,743.10. Following the transaction, the chief executive officer now directly owns 432,682 shares in the company, valued at $34,138,609.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 148,249 shares of company stock valued at $11,480,926. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Iron Mountain

Hedge funds have recently bought and sold shares of the business. Allworth Financial LP increased its position in Iron Mountain by 6,889.9% during the fourth quarter. Allworth Financial LP now owns 63,189 shares of the financial services provider’s stock worth $4,422,000 after buying an additional 62,285 shares during the last quarter. Waverly Advisors LLC bought a new stake in Iron Mountain during the third quarter valued at about $1,993,000. RPg Family Wealth Advisory LLC bought a new stake in Iron Mountain during the fourth quarter valued at about $3,270,000. Allspring Global Investments Holdings LLC boosted its holdings in Iron Mountain by 99.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 84,958 shares of the financial services provider’s stock valued at $5,051,000 after acquiring an additional 42,407 shares during the period. Finally, Public Sector Pension Investment Board boosted its holdings in Iron Mountain by 6.1% during the third quarter. Public Sector Pension Investment Board now owns 59,274 shares of the financial services provider’s stock valued at $3,524,000 after acquiring an additional 3,405 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $76.01 on Friday. Iron Mountain has a one year low of $52.05 and a one year high of $82.19. The stock has a fifty day moving average of $75.92 and a 200-day moving average of $68.09. The company has a market capitalization of $22.22 billion, a PE ratio of 120.65, a price-to-earnings-growth ratio of 4.55 and a beta of 0.94. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the company posted $0.98 EPS. Iron Mountain’s revenue was up 11.0% on a year-over-year basis. As a group, equities analysts anticipate that Iron Mountain will post 4.16 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend was Thursday, March 14th. Iron Mountain’s dividend payout ratio (DPR) is presently 412.70%.

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.