Iron Mountain Incorporated (NYSE:IRM) Given Average Recommendation of “Buy” by Brokerages

Iron Mountain Incorporated (NYSE:IRM) has received an average rating of “Buy” from the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $120.1667.

A number of research firms recently commented on IRM. Barclays boosted their price target on Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. dropped their price target on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th.

Iron Mountain Stock Up 1.0%

IRM stock opened at $99.90 on Friday. The company has a market cap of $29.51 billion, a PE ratio of 713.62 and a beta of 1.08. The business has a 50-day simple moving average of $94.98 and a 200 day simple moving average of $93.66. Iron Mountain has a 52 week low of $72.33 and a 52 week high of $130.24.

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

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be paid a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.14 annualized dividend and a yield of 3.1%. Iron Mountain’s payout ratio is presently 2,242.86%.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $89.56, for a total transaction of $6,190,835.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $100.36, for a total value of $6,937,385.00. The disclosure for this sale can be found here. Insiders sold a total of 236,709 shares of company stock worth $22,555,809 in the last ninety days. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Kestra Private Wealth Services LLC raised its stake in Iron Mountain by 14.7% during the first quarter. Kestra Private Wealth Services LLC now owns 14,537 shares of the financial services provider’s stock worth $1,251,000 after acquiring an additional 1,860 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Iron Mountain by 86.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider’s stock worth $169,922,000 after purchasing an additional 913,715 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Iron Mountain during the first quarter worth about $30,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Iron Mountain by 1.4% during the first quarter. Steward Partners Investment Advisory LLC now owns 38,032 shares of the financial services provider’s stock worth $3,272,000 after purchasing an additional 513 shares during the last quarter. Finally, Inspire Trust Co. N.A. grew its holdings in shares of Iron Mountain by 21.4% during the first quarter. Inspire Trust Co. N.A. now owns 17,000 shares of the financial services provider’s stock worth $1,463,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors and hedge funds 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.