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

StockNews.com cut shares of Iron Mountain (NYSE:IRM) from a hold rating to a sell rating in a research report sent to investors on Monday morning.

IRM has been the subject of a number of other reports. Wells Fargo & Company dropped their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. cut 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. Finally, Barclays lowered their price objective on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Iron Mountain has a consensus rating of “Moderate Buy” and a consensus target price of $125.67.

Iron Mountain Stock Performance

Iron Mountain stock opened at $88.16 on Monday. The stock has a fifty day moving average of $93.59 and a 200-day moving average of $107.75. The stock has a market capitalization of $25.90 billion, a P/E ratio of 144.52, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain has a 52 week low of $73.53 and a 52 week high of $130.24.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same period last year, the company posted $0.52 EPS. On average, research analysts forecast that Iron Mountain will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a $0.785 dividend. 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 yield of 3.56%. Iron Mountain’s dividend payout ratio is presently 514.75%.

Insiders Place Their Bets

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the transaction, the chief accounting officer now directly owns 288 shares in the company, valued at approximately $26,737.92. This represents a 95.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 249,848 shares of company stock worth $23,418,519. 2.10% of the stock is currently owned by insiders.

Institutional Trading of Iron Mountain

Several large investors have recently made changes to their positions in IRM. Dynamic Technology Lab Private Ltd acquired a new stake in Iron Mountain in the third quarter valued at approximately $271,000. Townsquare Capital LLC lifted its holdings in shares of Iron Mountain by 72.9% in the 3rd quarter. Townsquare Capital LLC now owns 10,129 shares of the financial services provider’s stock worth $1,204,000 after purchasing an additional 4,271 shares in the last quarter. CreativeOne Wealth LLC acquired a new stake in Iron Mountain in the 3rd quarter valued at $358,000. Erste Asset Management GmbH bought a new stake in Iron Mountain during the 3rd quarter valued at $9,506,000. Finally, Bamco Inc. NY acquired a new position in Iron Mountain during the third quarter worth $18,908,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

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.