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

Iron Mountain Incorporated (NYSE:IRM) has been assigned a consensus rating of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $114.80.

Several equities analysts have recently weighed in on the stock. Barclays upped their price objective on shares of Iron Mountain from $122.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, November 12th. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. JPMorgan Chase & Co. increased their price target on Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. 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.

Insiders Place Their Bets

In related news, EVP Mark Kidd sold 7,306 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $100.82, for a total value of $736,590.92. Following the sale, the executive vice president owned 73,081 shares in the company, valued at $7,368,026.42. This represents a 9.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total transaction of $7,074,252.50. The disclosure for this sale is available in the SEC filing. Insiders sold 226,681 shares of company stock worth $21,799,375 over the last ninety days. Insiders own 1.90% of the company’s stock.

Institutional Trading of Iron Mountain

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IRM. Quent Capital LLC purchased a new position in Iron Mountain during the 3rd quarter worth $27,000. Johnson Financial Group Inc. bought a new position in shares of Iron Mountain during the third quarter valued at about $32,000. Wealth Watch Advisors INC purchased a new position in Iron Mountain during the third quarter worth about $44,000. Oliver Lagore Vanvalin Investment Group bought a new stake in Iron Mountain in the 2nd quarter worth about $51,000. Finally, Washington Trust Advisors Inc. bought a new stake in Iron Mountain in the 3rd quarter worth about $54,000. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Up 0.6%

Shares of IRM stock opened at $81.98 on Monday. The firm has a 50 day moving average of $91.01 and a 200-day moving average of $95.79. The company has a market cap of $24.23 billion, a price-to-earnings ratio of 154.67 and a beta of 1.14. Iron Mountain has a 52 week low of $72.33 and a 52 week high of $112.18.

Iron Mountain (NYSE:IRM) last released its earnings results 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. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. Iron Mountain had a net margin of 2.40% and a negative return on equity of 112.70%. Iron Mountain’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.13 EPS. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. Analysts anticipate that Iron Mountain will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Monday, December 15th will be paid a dividend of $0.864 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.79. The ex-dividend date is Monday, December 15th. This represents a $3.46 dividend on an annualized basis and a yield of 4.2%. Iron Mountain’s dividend payout ratio (DPR) is presently 652.83%.

Iron Mountain Company Profile

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.