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

Iron Mountain Incorporated (NYSE:IRM) has received an average rating of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $118.6667.

Several analysts recently weighed in on IRM shares. Jefferies Financial Group initiated coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a report on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Barclays upped their target price on Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th.

Iron Mountain Trading Up 3.3%

NYSE:IRM opened at $104.18 on Friday. The stock’s 50-day moving average is $101.18 and its 200-day moving average is $98.44. Iron Mountain has a 1-year low of $72.33 and a 1-year high of $125.38. The stock has a market cap of $30.77 billion, a P/E ratio of 744.19 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.03. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the business earned $1.13 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. As a group, equities analysts forecast that Iron Mountain will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th will be paid a $0.864 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.79. Iron Mountain’s payout ratio is currently 592.45%.

Insiders Place Their Bets

In other news, EVP Mark Kidd sold 7,306 shares of Iron Mountain stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $100.82, for a total value of $736,590.92. Following the completion of the transaction, the executive vice president directly owned 73,081 shares of the company’s stock, valued at approximately $7,368,026.42. This trade represents a 9.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total value of $7,074,252.50. The disclosure for this sale is available in the SEC filing. Insiders have sold 226,681 shares of company stock valued at $22,265,632 in the last three months. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Iron Mountain

Hedge funds have recently added to or reduced their stakes in the business. Kestra Private Wealth Services LLC increased its stake in shares of Iron Mountain by 14.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 14,537 shares of the financial services provider’s stock valued at $1,251,000 after acquiring an additional 1,860 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Iron Mountain by 86.1% in 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 period. Penobscot Investment Management Company Inc. bought a new stake in Iron Mountain in the second quarter valued at $517,000. Steward Partners Investment Advisory LLC raised 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 valued at $3,272,000 after purchasing an additional 513 shares during the period. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of Iron Mountain during the 2nd quarter worth about $10,093,000. 80.13% of the stock is currently owned by institutional investors.

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.