Iron Mountain Incorporated (NYSE:IRM) Receives $95.29 Average Price Target from Analysts

Shares of Iron Mountain Incorporated (NYSE:IRM) have been given an average recommendation of “Moderate Buy” by the six brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $99.83.

A number of research firms recently weighed in on IRM. Stifel Nicolaus lifted their target price on Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. The Goldman Sachs Group boosted their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company upped their price target on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $81.03, for a total transaction of $1,286,351.25. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $23,956,519.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $81.03, for a total transaction of $1,286,351.25. Following the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $23,956,519.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Walter C. Rakowich sold 954 shares of Iron Mountain stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $81.33, for a total value of $77,588.82. Following the completion of the sale, the director now owns 35,166 shares of the company’s stock, valued at $2,860,050.78. The disclosure for this sale can be found here. Insiders have sold a total of 96,372 shares of company stock worth $8,516,435 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

Several large investors have recently bought and sold shares of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Iron Mountain during the second quarter worth about $32,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Iron Mountain during the 2nd quarter worth approximately $36,000. Headlands Technologies LLC acquired a new position in Iron Mountain during the first quarter valued at approximately $38,000. Family Firm Inc. bought a new stake in Iron Mountain in the second quarter valued at approximately $45,000. Finally, Transcendent Capital Group LLC acquired a new stake in Iron Mountain in the fourth quarter worth $36,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Trading Down 0.1 %

Iron Mountain stock opened at $109.50 on Friday. The business’s 50-day simple moving average is $97.57 and its 200-day simple moving average is $84.58. Iron Mountain has a 52 week low of $56.51 and a 52 week high of $112.79. The firm has a market capitalization of $32.10 billion, a PE ratio of 165.91, a PEG ratio of 6.49 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 0.79.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 earnings per share. Equities research analysts forecast that Iron Mountain will post 4.22 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be paid a $0.715 dividend. The ex-dividend date of this dividend is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.61%. Iron Mountain’s dividend payout ratio (DPR) is 433.33%.

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.