Iron Mountain Incorporated (NYSE:IRM) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Iron Mountain Incorporated (NYSE:IRM) have received a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $99.83.

A number of research firms have recently weighed in on IRM. Stifel Nicolaus lifted their price target on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Wells Fargo & Company lifted their price objective on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group upped their target price on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their price target on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd.

Iron Mountain Stock Up 0.6 %

IRM stock opened at $117.06 on Tuesday. Iron Mountain has a fifty-two week low of $56.51 and a fifty-two week high of $117.83. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market capitalization of $34.31 billion, a price-to-earnings ratio of 177.36, a PEG ratio of 6.85 and a beta of 1.00. The business’s fifty day moving average price is $106.10 and its two-hundred day moving average price is $89.93.

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

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be issued a dividend of $0.715 per share. The ex-dividend date is Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.44%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s payout ratio is 433.33%.

Insider Activity at Iron Mountain

In other Iron Mountain news, COO John Tomovcsik sold 35,084 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $88.76, for a total transaction of $3,114,055.84. Following the completion of the transaction, the chief operating officer now owns 20,366 shares of the company’s stock, valued at $1,807,686.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Iron Mountain news, CAO Daniel Borges sold 3,095 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $86.83, for a total value of $268,738.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John Tomovcsik sold 35,084 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $88.76, for a total value of $3,114,055.84. Following the completion of the transaction, the chief operating officer now owns 20,366 shares of the company’s stock, valued at $1,807,686.16. The disclosure for this sale can be found here. Insiders have sold 68,882 shares of company stock valued at $6,293,740 over the last ninety days. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Iron Mountain during the 2nd quarter worth approximately $32,000. Transcendent Capital Group LLC acquired a new position in shares of Iron Mountain during the fourth quarter worth $36,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Iron Mountain during the second quarter worth $36,000. Heritage Wealth Advisors bought a new stake in shares of Iron Mountain in the fourth quarter worth $38,000. Finally, Headlands Technologies LLC acquired a new stake in Iron Mountain in the first quarter valued at $38,000. Institutional investors and hedge funds 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.