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

Iron Mountain Incorporated (NYSE:IRM) has received a consensus rating of “Buy” from the seven analysts that are presently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $120.1667.

A number of research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. JPMorgan Chase & Co. decreased their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th.

Insider Activity at Iron Mountain

In other Iron Mountain news, Director Walter C. Rakowich sold 900 shares of the company’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total transaction of $89,973.00. Following the completion of the transaction, the director directly owned 36,515 shares in the company, valued at approximately $3,650,404.55. This represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Greg W. Mcintosh sold 17,334 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.00, for a total transaction of $1,733,400.00. Following the sale, the executive vice president directly owned 35,446 shares of the company’s stock, valued at $3,544,600. The trade was a 32.84% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 231,609 shares of company stock valued at $22,736,123. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Cranbrook Wealth Management LLC acquired a new stake in shares of Iron Mountain during the first quarter worth about $26,000. Financial Network Wealth Advisors LLC purchased a new position in Iron Mountain in the first quarter valued at approximately $26,000. Golden State Wealth Management LLC purchased a new position in shares of Iron Mountain during the first quarter worth approximately $30,000. Ramirez Asset Management Inc. purchased a new position in shares of Iron Mountain during the first quarter worth approximately $34,000. Finally, Wayfinding Financial LLC purchased a new position in shares of Iron Mountain during the first quarter worth approximately $37,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Down 2.2%

Shares of IRM opened at $91.8390 on Tuesday. Iron Mountain has a twelve month low of $72.33 and a twelve month high of $130.24. The company’s fifty day simple moving average is $97.42 and its 200-day simple moving average is $93.64. The company has a market cap of $27.12 billion, a P/E ratio of 656.04 and a beta of 1.07.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.05. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.68 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. Analysts predict that Iron Mountain will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be paid a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, September 15th. Iron Mountain’s payout ratio is currently 2,242.86%.

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.