Iron Mountain (NYSE:IRM) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of Iron Mountain (NYSE:IRM) from a hold rating to a strong sell rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts have also recently issued reports on the company. Barclays lifted their target price on Iron Mountain from $126.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Loop Capital set a $130.00 target price on Iron Mountain in a research report on Wednesday, March 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $122.00.

Iron Mountain Price Performance

IRM stock traded down $0.25 during midday trading on Monday, reaching $113.78. The company had a trading volume of 123,664 shares, compared to its average volume of 1,783,412. Iron Mountain has a 1-year low of $77.77 and a 1-year high of $115.24. The stock has a 50 day moving average price of $105.06 and a 200-day moving average price of $97.07. The company has a market capitalization of $33.85 billion, a price-to-earnings ratio of 236.72 and a beta of 1.13.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 3rd. Stockholders of record on Monday, March 16th were issued a dividend of $0.864 per share. This represents a $3.46 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, March 16th. Iron Mountain’s payout ratio is 720.83%.

Insider Transactions at Iron Mountain

In other news, Director Jennifer Allerton sold 7,000 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $108.88, for a total transaction of $762,160.00. Following the sale, the director directly owned 11,541 shares in the company, valued at approximately $1,256,584.08. The trade was a 37.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William L. Meaney sold 38,474 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $102.71, for a total value of $3,951,664.54. Following the sale, the chief executive officer owned 38,474 shares in the company, valued at approximately $3,951,664.54. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 451,648 shares of company stock valued at $48,297,449. 1.70% of the stock is currently owned by company insiders.

Institutional Trading of Iron Mountain

Hedge funds and other institutional investors have recently made changes to their positions in the company. Garton & Associates Financial Advisors LLC bought a new stake in shares of Iron Mountain during the fourth quarter worth about $25,000. Quent Capital LLC acquired a new position in shares of Iron Mountain in the third quarter worth approximately $27,000. Beaird Harris Wealth Management LLC lifted its stake in shares of Iron Mountain by 17,500.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 350 shares during the period. Johnson Financial Group Inc. acquired a new position in shares of Iron Mountain in the third quarter worth approximately $32,000. Finally, Bayban acquired a new position in shares of Iron Mountain in the fourth quarter worth approximately $33,000. 80.13% of the stock is currently owned by institutional investors.

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.