Iron Mountain Incorporated (NYSE:IRM) Receives $82.83 Average Target Price from Brokerages

Shares of Iron Mountain Incorporated (NYSE:IRM) have received an average rating of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $86.17.

A number of equities analysts recently issued reports on IRM shares. The Goldman Sachs Group upped their price target on Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Stifel Nicolaus upped their price target on Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Wells Fargo & Company upped their price target on Iron Mountain from $90.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd.

Iron Mountain Stock Performance

Shares of Iron Mountain stock opened at $98.50 on Monday. Iron Mountain has a one year low of $56.51 and a one year high of $101.38. The company has a market cap of $28.87 billion, a PE ratio of 149.24, a P/E/G ratio of 5.83 and a beta of 0.98. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.86. The business has a 50-day simple moving average of $89.17 and a 200-day simple moving average of $79.87.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Monday, June 17th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 2.64%. The ex-dividend date was Monday, June 17th. Iron Mountain’s payout ratio is currently 393.95%.

Insider Activity

In other news, COO John Tomovcsik sold 35,084 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $88.76, for a total value of $3,114,055.84. Following the completion of the sale, the chief operating officer now directly owns 20,366 shares of the company’s stock, valued at $1,807,686.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO John Tomovcsik sold 35,084 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $88.76, for a total transaction of $3,114,055.84. Following the completion of the sale, the chief operating officer now owns 20,366 shares in the company, valued at $1,807,686.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Walter C. Rakowich sold 954 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $81.33, for a total value of $77,588.82. Following the sale, the director now owns 35,166 shares of the company’s stock, valued at approximately $2,860,050.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,553 shares of company stock valued at $8,759,378. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Iron Mountain

Large investors have recently modified their holdings of the stock. Blue Trust Inc. raised its stake in shares of Iron Mountain by 201.7% during the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 242 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in Iron Mountain in the fourth quarter worth $26,000. CVA Family Office LLC purchased a new position in Iron Mountain in the fourth quarter worth $32,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Iron Mountain in the second quarter worth $32,000. Finally, Transcendent Capital Group LLC purchased a new position in Iron Mountain in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Company Profile

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.