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

Iron Mountain Incorporated (NYSE:IRM) has earned an average rating of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $114.80.

Several analysts recently commented on IRM shares. JPMorgan Chase & Co. raised their price objective on shares of Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Barclays raised their price objective on Iron Mountain from $122.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. Finally, Jefferies Financial Group initiated coverage on Iron Mountain in a research report on Monday, September 22nd. They set a “buy” rating and a $120.00 target price on the stock.

Iron Mountain Price Performance

Iron Mountain stock opened at $84.27 on Thursday. The stock’s 50 day moving average price is $98.21 and its 200 day moving average price is $97.79. Iron Mountain has a 1-year low of $72.33 and a 1-year high of $121.23. The company has a market cap of $24.91 billion, a PE ratio of 159.00 and a beta of 1.14.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.03. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Iron Mountain had a negative return on equity of 112.70% and a net margin of 2.40%.Iron Mountain’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.13 earnings per share. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. On average, equities research analysts anticipate that Iron Mountain will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Monday, December 15th will be given a $0.864 dividend. The ex-dividend date is Monday, December 15th. This represents a $3.46 annualized dividend and a dividend yield of 4.1%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.79. Iron Mountain’s payout ratio is presently 650.94%.

Insider Activity

In other news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total transaction of $7,074,252.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Kidd sold 7,306 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $100.82, for a total value of $736,590.92. Following the completion of the sale, the executive vice president directly owned 73,081 shares in the company, valued at approximately $7,368,026.42. The trade was a 9.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 226,681 shares of company stock valued at $21,799,375 over the last 90 days. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Iron Mountain

Institutional investors have recently made changes to their positions in the stock. Financial Network Wealth Advisors LLC acquired a new stake in shares of Iron Mountain during the first quarter valued at $26,000. Quent Capital LLC acquired a new position in Iron Mountain in the 3rd quarter valued at about $27,000. Johnson Financial Group Inc. purchased a new position in Iron Mountain in the 3rd quarter valued at about $32,000. Wealth Watch Advisors INC acquired a new stake in shares of Iron Mountain during the 3rd quarter worth about $44,000. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Iron Mountain during the 1st quarter worth about $46,000. 80.13% of the stock is owned by institutional investors and hedge funds.

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.