Iron Mountain Incorporated (NYSE:IRM) Given Consensus Recommendation of "Buy" by Analysts

Iron Mountain Incorporated (NYSE:IRM - Get Free Report) has been given a consensus recommendation of "Buy" by the eight analysts that are covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $121.29.

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Barclays lowered their price target on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a report on Thursday, March 20th. JPMorgan Chase & Co. reduced their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. Truist Financial assumed coverage on Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 target price for the company. Finally, StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the sale, the chief accounting officer now directly owns 288 shares in the company, valued at approximately $26,737.92. This trade represents a 95.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 318,973 shares of company stock valued at $29,370,872. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. World Investment Advisors LLC purchased a new position in Iron Mountain in the 3rd quarter worth $554,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Iron Mountain in the third quarter worth about $837,000. Tidal Investments LLC lifted its holdings in shares of Iron Mountain by 254.1% during the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider's stock worth $2,440,000 after purchasing an additional 14,737 shares during the period. Oddo BHF Asset Management Sas purchased a new stake in Iron Mountain in the third quarter valued at approximately $10,206,000. Finally, Lord Abbett & CO. LLC acquired a new position in Iron Mountain in the 3rd quarter worth approximately $24,122,000. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Trading Up 1.8 %

Shares of NYSE:IRM opened at $83.04 on Wednesday. The company has a market capitalization of $24.39 billion, a price-to-earnings ratio of 136.13, a PEG ratio of 5.15 and a beta of 0.97. Iron Mountain has a 12 month low of $72.33 and a 12 month high of $130.24. The firm's 50-day moving average is $86.62 and its 200 day moving average is $103.84.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. As a group, equities analysts forecast that Iron Mountain will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were paid a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.78%. The ex-dividend date was Monday, March 17th. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's payout ratio is 514.75%.

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.

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