Iron Mountain Incorporated (NYSE:IRM) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Iron Mountain Incorporated (NYSE:IRM) have received a consensus rating of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $115.40.

Several research firms have issued reports on IRM. Barclays restated an “overweight” rating and set a $126.00 price target on shares of Iron Mountain in a research report on Tuesday, January 13th. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. JPMorgan Chase & Co. raised their price target on Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 38,482 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $83.17, for a total transaction of $3,200,547.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $83.10, for a total value of $498,600.00. Following the completion of the sale, the executive vice president directly owned 55,081 shares in the company, valued at $4,577,231.10. The trade was a 9.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 202,038 shares of company stock valued at $18,424,270 in the last three months. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Iron Mountain

Large investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in Iron Mountain in the second quarter worth $419,457,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Iron Mountain by 597.9% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,161,589 shares of the financial services provider’s stock valued at $322,292,000 after purchasing an additional 2,708,560 shares during the period. Invesco Ltd. lifted its position in shares of Iron Mountain by 50.6% in the 2nd quarter. Invesco Ltd. now owns 4,289,583 shares of the financial services provider’s stock worth $439,983,000 after purchasing an additional 1,440,629 shares during the period. Vontobel Holding Ltd. bought a new stake in shares of Iron Mountain during the 3rd quarter valued at about $109,941,000. Finally, Prudential Financial Inc. increased its position in shares of Iron Mountain by 44.7% during the second quarter. Prudential Financial Inc. now owns 1,945,769 shares of the financial services provider’s stock valued at $199,578,000 after buying an additional 601,290 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Price Performance

Shares of NYSE IRM opened at $93.91 on Friday. The stock has a market capitalization of $27.76 billion, a P/E ratio of 177.19 and a beta of 1.13. Iron Mountain has a one year low of $72.33 and a one year high of $112.18. The firm’s 50 day simple moving average is $85.81 and its two-hundred day simple moving average is $94.11.

Iron Mountain (NYSE:IRM) last announced 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 2.40% and a negative return on equity of 112.70%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the company earned $1.13 EPS. The firm’s 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 expect that Iron Mountain will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Monday, December 15th were paid a $0.864 dividend. The ex-dividend date of this dividend was Monday, December 15th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.79. This represents a $3.46 annualized dividend and a dividend yield of 3.7%. Iron Mountain’s payout ratio 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.