Iron Mountain (NYSE:IRM) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of Iron Mountain (NYSE:IRM) from a hold rating to a sell rating in a research note published on Friday morning.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Barclays decreased their price target on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Royal Bank of Canada lifted their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company decreased their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Iron Mountain has a consensus rating of “Moderate Buy” and a consensus target price of $127.67.

Iron Mountain Stock Up 1.9 %

Shares of IRM stock opened at $86.68 on Friday. Iron Mountain has a 12 month low of $73.53 and a 12 month high of $130.24. The business’s 50 day moving average is $98.28 and its two-hundred day moving average is $110.03. The company has a market cap of $25.46 billion, a PE ratio of 142.09, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.70). The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same quarter last year, the business earned $0.52 EPS. As a group, equities analysts expect that Iron Mountain will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.62%. Iron Mountain’s dividend payout ratio (DPR) is presently 514.75%.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the transaction, the chief accounting officer now directly owns 288 shares of the company’s stock, valued at $26,737.92. This represents a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 327,242 shares of company stock valued at $31,530,305. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IRM. Key Financial Inc raised its holdings in Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC bought a new stake in Iron Mountain during the 4th quarter worth about $26,000. IMG Wealth Management Inc. bought a new stake in Iron Mountain during the 4th quarter worth about $26,000. Ashton Thomas Securities LLC bought a new stake in Iron Mountain during the 3rd quarter worth about $31,000. Finally, Teachers Insurance & Annuity Association of America bought a new stake in Iron Mountain during the 3rd quarter worth about $36,000. 80.13% of the stock is owned by institutional investors.

About Iron Mountain

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.