Iron Mountain (NYSE:IRM) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Iron Mountain (NYSE:IRM) from a sell rating to a hold rating in a report published on Saturday morning.

A number of other analysts also recently weighed in on the company. Wells Fargo & Company dropped their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Barclays dropped their target price on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday. Royal Bank of Canada boosted their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. decreased their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $125.67.

Iron Mountain Trading Down 0.9 %

Shares of IRM opened at $87.64 on Friday. The company has a market cap of $25.74 billion, a PE ratio of 143.67, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. The stock has a 50-day moving average price of $96.89 and a 200-day moving average price of $109.19. Iron Mountain has a 12-month low of $73.53 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate 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 posted $0.52 EPS. As a group, analysts predict that Iron Mountain will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid 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 annualized dividend and a dividend yield of 3.58%. Iron Mountain’s payout ratio is 514.75%.

Insider Activity

In related news, CAO Daniel Borges sold 6,433 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 69,131 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 327,242 shares of company stock valued at $31,530,305. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Iron Mountain

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IMG Wealth Management Inc. purchased a new stake in Iron Mountain in the fourth quarter worth $26,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Iron Mountain in the fourth quarter worth $26,000. Key Financial Inc grew its stake in Iron Mountain by 25,100.0% in the fourth 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 period. Teachers Insurance & Annuity Association of America purchased a new stake in Iron Mountain in the third quarter worth $36,000. Finally, Dunhill Financial LLC grew its stake in shares of Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 152 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other 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.