Iron Mountain (NYSE:IRM) Upgraded at StockNews.com

StockNews.com upgraded shares of Iron Mountain (NYSE:IRM) from a sell rating to a hold rating in a research report report published on Tuesday morning.

Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada increased their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Wells Fargo & Company reduced their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Finally, Barclays dropped their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $127.67.

Iron Mountain Trading Down 1.5 %

IRM opened at $91.64 on Tuesday. The stock has a 50-day moving average of $102.35 and a 200 day moving average of $111.89. Iron Mountain has a 12 month low of $73.45 and a 12 month high of $130.24. The firm has a market cap of $26.92 billion, a P/E ratio of 150.23, a P/E/G ratio of 5.15 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the firm posted $0.52 EPS. On average, research analysts forecast that Iron Mountain will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a $0.785 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.43%. Iron Mountain’s payout ratio is presently 514.75%.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 162,391 shares of company stock worth $16,805,912 in the last ninety days. 2.10% of the stock is owned by company insiders.

Institutional Trading of Iron Mountain

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its stake in shares of Iron Mountain by 2.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock worth $6,402,000 after purchasing an additional 1,446 shares during the last quarter. Merit Financial Group LLC boosted its holdings in shares of Iron Mountain by 91.5% in the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock valued at $1,570,000 after buying an additional 7,137 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of Iron Mountain by 254.1% in the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock valued at $2,440,000 after buying an additional 14,737 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Iron Mountain by 151.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock worth $961,000 after buying an additional 5,511 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of Iron Mountain during the 3rd quarter worth approximately $24,122,000. Institutional investors own 80.13% of the company’s stock.

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.