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

Shares of Iron Mountain Incorporated (NYSE:IRM) have received an average recommendation of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $113.00.

A number of analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Barclays increased their price target on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday. The Goldman Sachs Group upped their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus upped their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd.

Iron Mountain Stock Up 1.1 %

Shares of Iron Mountain stock opened at $120.34 on Friday. Iron Mountain has a one year low of $57.36 and a one year high of $120.70. The company has a market cap of $35.30 billion, a P/E ratio of 154.28, a PEG ratio of 7.22 and a beta of 1.00. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a fifty day moving average of $113.74 and a two-hundred day moving average of $95.19.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.59). Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the company earned $0.94 earnings per share. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, analysts forecast that Iron Mountain will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.38%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date was Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is 366.67%.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,697,484. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,697,484. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the transaction, the director now directly owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,003 shares of company stock valued at $3,761,505. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Iron Mountain

Several institutional investors have recently added to or reduced their stakes in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Iron Mountain in the 2nd quarter valued at about $32,000. Transcendent Capital Group LLC purchased a new position in Iron Mountain during the fourth quarter worth approximately $36,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Iron Mountain in the 2nd quarter valued at $36,000. Headlands Technologies LLC purchased a new stake in shares of Iron Mountain during the 1st quarter valued at $38,000. Finally, Family Firm Inc. acquired a new stake in shares of Iron Mountain during the 2nd quarter worth $45,000. 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.