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

Iron Mountain Incorporated (NYSE:IRM) has been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $115.50.

A number of analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Barclays boosted their target price on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group lifted their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus boosted their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd.

Iron Mountain Stock Performance

Shares of IRM opened at $121.16 on Wednesday. The company has a market cap of $35.54 billion, a price-to-earnings ratio of 155.34, a P/E/G ratio of 7.41 and a beta of 0.99. The business’s fifty day simple moving average is $118.54 and its two-hundred day simple moving average is $100.20. Iron Mountain has a 12 month low of $57.36 and a 12 month high of $130.24. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.59). The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. Iron Mountain’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 earnings per share. Research analysts anticipate that Iron Mountain will post 4.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the transaction, the director now owns 14,829 shares in the company, valued at approximately $1,725,799.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,697,484. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,637 shares of company stock worth $3,210,575. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System boosted its position in shares of Iron Mountain by 2.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider’s stock valued at $25,787,000 after acquiring an additional 7,486 shares during the last quarter. Friedenthal Financial purchased a new stake in Iron Mountain during the third quarter valued at $824,000. Price T Rowe Associates Inc. MD lifted its position in Iron Mountain by 22.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock valued at $47,547,000 after purchasing an additional 110,551 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Iron Mountain by 19.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock worth $6,794,000 after buying an additional 12,540 shares in the last quarter. Finally, Centersquare Investment Management LLC increased its holdings in shares of Iron Mountain by 7,892.6% in the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after buying an additional 1,519,237 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

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.