Iron Mountain Incorporated (NYSE:IRM) Receives $131.00 Average Price Target from Analysts

Shares of Iron Mountain Incorporated (NYSE:IRM) have received a consensus rating of “Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $131.00.

Several research analysts recently commented on the company. Royal Bank of Canada increased their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Stifel Nicolaus boosted their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Barclays cut their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, November 18th. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company boosted their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $117.96, for a total value of $1,872,615.00. Following the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,874,874. This represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The disclosure for this sale can be found here. Insiders have sold a total of 125,016 shares of company stock valued at $13,666,427 in the last quarter. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of IRM. LPL Financial LLC boosted its holdings in Iron Mountain by 9.5% during the 2nd quarter. LPL Financial LLC now owns 501,499 shares of the financial services provider’s stock valued at $44,944,000 after acquiring an additional 43,498 shares during the period. American Century Companies Inc. increased its stake in Iron Mountain by 5.7% during the 2nd quarter. American Century Companies Inc. now owns 828,630 shares of the financial services provider’s stock worth $74,262,000 after buying an additional 44,574 shares during the period. Main Street Financial Solutions LLC acquired a new stake in Iron Mountain during the 2nd quarter worth approximately $208,000. Meeder Advisory Services Inc. boosted its position in Iron Mountain by 22.9% in the 2nd quarter. Meeder Advisory Services Inc. now owns 3,295 shares of the financial services provider’s stock valued at $295,000 after buying an additional 615 shares during the period. Finally, Federated Hermes Inc. grew its stake in shares of Iron Mountain by 1.2% in the second quarter. Federated Hermes Inc. now owns 50,547 shares of the financial services provider’s stock worth $4,530,000 after acquiring an additional 614 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Trading Down 1.0 %

NYSE:IRM opened at $109.19 on Monday. The firm has a market cap of $32.04 billion, a P/E ratio of 303.31, a price-to-earnings-growth ratio of 5.56 and a beta of 1.02. The stock has a 50 day moving average of $111.35 and a two-hundred day moving average of $111.59. Iron Mountain has a 12 month low of $65.01 and a 12 month high of $130.24.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were paid a dividend of $0.715 per share. The ex-dividend date was Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.62%. Iron Mountain’s dividend payout ratio (DPR) is 794.44%.

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.