Iron Mountain Incorporated (NYSE:IRM) Receives Average Recommendation of “Buy” from Analysts

Shares of Iron Mountain Incorporated (NYSE:IRM) have been given an average rating of “Buy” by the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $131.00.

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

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $35,173,480.50. This trade represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 15,872 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. Insiders have sold 63,497 shares of company stock valued at $7,417,731 in the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Iron Mountain

Several hedge funds have recently made changes to their positions in IRM. Ashton Thomas Securities LLC acquired a new position in Iron Mountain in the third quarter valued at approximately $31,000. West Branch Capital LLC acquired a new position in shares of Iron Mountain in the 3rd quarter valued at $33,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Iron Mountain during the 3rd quarter worth $36,000. Dunhill Financial LLC increased its position in shares of Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 152 shares during the last quarter. Finally, Quarry LP raised its holdings in Iron Mountain by 86.5% in the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after buying an additional 230 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

NYSE IRM opened at $105.58 on Thursday. The stock has a market capitalization of $30.98 billion, a price-to-earnings ratio of 293.29, a PEG ratio of 6.77 and a beta of 0.98. The stock has a 50-day moving average of $117.89 and a 200 day moving average of $109.84. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain has a twelve month low of $64.68 and a twelve month high of $130.24.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be paid a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.71%. Iron Mountain’s dividend payout ratio is presently 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.