Brokerages Set Iron Mountain Incorporated (NYSE:IRM) Target Price at $73.80

Shares of Iron Mountain Incorporated (NYSE:IRM) have received an average rating of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $78.33.

Several equities analysts have issued reports on the company. The Goldman Sachs Group lifted their target price on Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday. Barclays lifted their target price on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Finally, Wells Fargo & Company lifted their target price on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, March 15th.

Insiders Place Their Bets

In related news, CAO Daniel Borges sold 3,095 shares of Iron Mountain stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $86.83, for a total transaction of $268,738.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $22,670,442. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Daniel Borges sold 3,095 shares of Iron Mountain stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $86.83, for a total value of $268,738.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,511 shares of company stock valued at $8,787,218. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its holdings in Iron Mountain by 169.5% in the first quarter. EverSource Wealth Advisors LLC now owns 954 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 600 shares during the period. Pathway Financial Advisers LLC acquired a new position in Iron Mountain in the first quarter valued at approximately $1,249,000. Cetera Advisors LLC lifted its holdings in Iron Mountain by 14.7% in the first quarter. Cetera Advisors LLC now owns 69,505 shares of the financial services provider’s stock valued at $5,575,000 after acquiring an additional 8,917 shares during the period. Cetera Investment Advisers lifted its holdings in Iron Mountain by 708.9% in the first quarter. Cetera Investment Advisers now owns 229,863 shares of the financial services provider’s stock valued at $18,437,000 after acquiring an additional 201,448 shares during the period. Finally, PGGM Investments lifted its holdings in Iron Mountain by 40.7% in the first quarter. PGGM Investments now owns 22,369 shares of the financial services provider’s stock valued at $1,794,000 after acquiring an additional 6,475 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Price Performance

IRM opened at $89.62 on Thursday. The business’s 50-day moving average is $82.25 and its two-hundred day moving average is $75.99. Iron Mountain has a 1 year low of $55.02 and a 1 year high of $90.40. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $26.27 billion, a PE ratio of 135.79, a price-to-earnings-growth ratio of 5.28 and a beta of 0.95.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Monday, June 17th. Iron Mountain’s dividend payout ratio is presently 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.