Iron Mountain Incorporated (NYSE:IRM) Receives $121.29 Consensus Target Price from Analysts

Shares of Iron Mountain Incorporated (NYSE:IRM) have been given an average recommendation of “Buy” by the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $121.29.

Several analysts recently weighed in on the company. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. Truist Financial started coverage on Iron Mountain in a research report on Tuesday, April 8th. They set a “buy” rating and a $95.00 target price for the company. Wells Fargo & Company cut their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Barclays lowered their target price on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. lowered their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $96.09, for a total value of $6,642,221.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mithu Bhargava sold 1,738 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $161,355.92. Following the sale, the executive vice president now owns 13,054 shares in the company, valued at $1,211,933.36. The trade was a 11.75% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 318,973 shares of company stock valued at $29,112,345. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

Institutional investors have recently bought and sold shares of the business. Wealthcare Advisory Partners LLC grew its position in shares of Iron Mountain by 2.3% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 12,711 shares of the financial services provider’s stock valued at $1,336,000 after purchasing an additional 280 shares during the last quarter. Merit Financial Group LLC lifted its stake in Iron Mountain by 91.5% during the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock worth $1,570,000 after purchasing an additional 7,137 shares during the last quarter. Somerset Trust Co lifted its stake in Iron Mountain by 28.5% during the fourth quarter. Somerset Trust Co now owns 4,685 shares of the financial services provider’s stock worth $492,000 after purchasing an additional 1,040 shares during the last quarter. Premier Path Wealth Partners LLC lifted its stake in Iron Mountain by 3.9% during the fourth quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider’s stock worth $299,000 after purchasing an additional 106 shares during the last quarter. Finally, Ameritas Advisory Services LLC lifted its stake in shares of Iron Mountain by 5.5% in the 4th quarter. Ameritas Advisory Services LLC now owns 4,092 shares of the financial services provider’s stock valued at $430,000 after acquiring an additional 214 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of IRM stock opened at $100.55 on Friday. Iron Mountain has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The stock’s 50-day moving average is $88.49 and its two-hundred day moving average is $99.84. The firm has a market cap of $29.67 billion, a P/E ratio of 164.84, a PEG ratio of 5.15 and a beta of 1.08.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.01. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.10 EPS. As a group, research analysts expect that Iron Mountain will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be paid a $0.785 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a yield of 3.12%. Iron Mountain’s payout ratio is 765.85%.

About Iron Mountain

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.