Iron Mountain Incorporated (NYSE:IRM) Receives $82.83 Average PT from Analysts

Iron Mountain Incorporated (NYSE:IRM) has earned an average rating of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $86.17.

Several analysts recently issued reports on the company. Stifel Nicolaus boosted their price target on Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. The Goldman Sachs Group upped their price objective on Iron Mountain from $89.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, Wells Fargo & Company upped their target price on Iron Mountain from $90.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday.

Insider Activity at Iron Mountain

In other Iron Mountain news, Director Wendy J. Murdock sold 1,500 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $75.35, for a total value of $113,025.00. Following the transaction, the director now owns 24,491 shares in the company, valued at $1,845,396.85. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $77.80, for a total value of $155,600.00. Following the transaction, the executive vice president now owns 63,286 shares in the company, valued at $4,923,650.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wendy J. Murdock sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $75.35, for a total value of $113,025.00. Following the completion of the transaction, the director now owns 24,491 shares in the company, valued at approximately $1,845,396.85. The disclosure for this sale can be found here. Insiders have sold a total of 100,553 shares of company stock worth $8,759,378 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Iron Mountain

A number of institutional investors and hedge funds have recently modified their holdings of IRM. Exchange Traded Concepts LLC purchased a new stake in shares of Iron Mountain during the fourth quarter valued at approximately $26,000. Nordea Investment Management AB increased its position in shares of Iron Mountain by 3.9% during the fourth quarter. Nordea Investment Management AB now owns 20,928 shares of the financial services provider’s stock valued at $1,468,000 after acquiring an additional 778 shares during the last quarter. Advisor Resource Council purchased a new stake in Iron Mountain in the fourth quarter worth $231,000. CVA Family Office LLC purchased a new stake in Iron Mountain in the fourth quarter worth $32,000. Finally, Thompson Investment Management Inc. increased its position in Iron Mountain by 33.0% in the fourth quarter. Thompson Investment Management Inc. now owns 1,064 shares of the financial services provider’s stock worth $74,000 after buying an additional 264 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

IRM opened at $98.50 on Monday. The business has a fifty day simple moving average of $89.17 and a 200 day simple moving average of $79.70. The company has a market capitalization of $28.87 billion, a PE ratio of 149.24, a price-to-earnings-growth ratio of 5.74 and a beta of 0.98. Iron Mountain has a 1 year low of $56.51 and a 1 year high of $101.38. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Monday, June 17th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $2.60 annualized dividend and a dividend yield of 2.64%. Iron Mountain’s payout ratio is 393.95%.

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.