Iron Mountain Incorporated (NYSE:IRM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Iron Mountain Incorporated (NYSE:IRM) have earned a consensus rating of “Moderate Buy” from the five analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $73.80.

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

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $77.63 on Wednesday. The stock’s fifty day moving average is $78.23 and its 200 day moving average is $70.24. Iron Mountain has a one year low of $52.81 and a one year high of $82.19. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $22.76 billion, a P/E ratio of 117.62, a P/E/G ratio of 4.51 and a beta of 0.96.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Iron Mountain had a net margin of 5.45% and a return on equity of 282.93%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 earnings per share. Sell-side analysts anticipate that Iron Mountain will post 4.18 earnings per share for the current year.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 3.35%. The ex-dividend date is Monday, June 17th. Iron Mountain’s payout ratio is currently 393.95%.

Insider Activity

In related news, EVP Mark Kidd sold 4,458 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $80.21, for a total transaction of $357,576.18. Following the completion of the sale, the executive vice president now directly owns 62,938 shares of the company’s stock, valued at approximately $5,048,256.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $77.80, for a total value of $155,600.00. Following the transaction, the executive vice president now directly owns 63,286 shares in the company, valued at approximately $4,923,650.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Kidd sold 4,458 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $80.21, for a total value of $357,576.18. Following the completion of the sale, the executive vice president now owns 62,938 shares of the company’s stock, valued at approximately $5,048,256.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 149,749 shares of company stock valued at $11,748,676. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Iron Mountain

A number of institutional investors and hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in shares of Iron Mountain during the fourth quarter valued at $16,590,000. Daiwa Securities Group Inc. raised its holdings in shares of Iron Mountain by 60.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock valued at $285,960,000 after purchasing an additional 1,546,592 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Iron Mountain by 42.3% in the 4th quarter. Handelsbanken Fonder AB now owns 162,087 shares of the financial services provider’s stock worth $11,343,000 after purchasing an additional 48,170 shares during the period. Allworth Financial LP boosted its stake in shares of 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 valued at $4,422,000 after purchasing an additional 62,285 shares in the last quarter. Finally, Lee Danner & Bass Inc. increased its holdings in Iron Mountain by 118.8% during the fourth quarter. Lee Danner & Bass Inc. now owns 21,775 shares of the financial services provider’s stock valued at $1,524,000 after buying an additional 11,825 shares during the period. 80.13% of the stock is owned by institutional investors.

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.