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

Iron Mountain Incorporated (NYSE:IRM - Get Free Report) has received a consensus rating of "Buy" from the seven research firms that are covering the firm, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $125.67.

Several brokerages have recently issued reports on IRM. Barclays decreased their price target on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a research note on Thursday, March 20th. Wells Fargo & Company decreased their target price on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. StockNews.com cut Iron Mountain from a "hold" rating to a "sell" rating in a research report on Monday. Finally, JPMorgan Chase & Co. lowered their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 18th.

Iron Mountain Price Performance

Shares of NYSE IRM traded down $0.43 during midday trading on Friday, reaching $85.61. The company's stock had a trading volume of 1,053,292 shares, compared to its average volume of 2,145,462. The stock has a market capitalization of $25.15 billion, a P/E ratio of 140.34, a PEG ratio of 5.15 and a beta of 1.04. The firm has a 50 day moving average price of $94.51 and a 200-day moving average price of $108.10. Iron Mountain has a 12-month low of $73.53 and a 12-month high of $130.24.

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

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.67%. Iron Mountain's dividend payout ratio is currently 514.75%.

Insider Activity

In other news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the completion of the sale, the chief executive officer now owns 237,402 shares in the company, valued at approximately $21,681,924.66. This trade represents a 42.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mithu Bhargava sold 1,738 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the transaction, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 318,979 shares of company stock worth $30,666,904. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Iron Mountain

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Iron Mountain by 2.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 7,078 shares of the financial services provider's stock worth $609,000 after acquiring an additional 142 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Iron Mountain by 23.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 51,874 shares of the financial services provider's stock worth $5,453,000 after purchasing an additional 9,937 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Iron Mountain in the 4th quarter worth about $10,217,000. Comprehensive Money Management Services LLC bought a new position in shares of Iron Mountain during the 4th quarter valued at about $1,499,000. Finally, Park Square Financial Group LLC purchased a new position in shares of Iron Mountain during the 4th quarter valued at about $314,000. Hedge funds and other institutional investors own 80.13% of the company's stock.

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.