Analysts Set Iron Mountain Incorporated (NYSE:IRM) PT at $129.40

Shares of Iron Mountain Incorporated (NYSE:IRM) have received a consensus recommendation of “Buy” from the six ratings firms that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $129.40.

Several research analysts have commented on the company. Wells Fargo & Company raised their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group raised their price objective on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, Stifel Nicolaus lifted their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd.

Iron Mountain Trading Up 2.3 %

NYSE:IRM opened at $123.61 on Friday. The business’s 50-day moving average is $119.91 and its two-hundred day moving average is $104.96. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. Iron Mountain has a 12 month low of $62.58 and a 12 month high of $130.24. The firm has a market capitalization of $36.27 billion, a PE ratio of 343.37, a price-to-earnings-growth ratio of 7.16 and a beta of 0.99.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be paid a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.31%. Iron Mountain’s dividend payout ratio (DPR) is 794.47%.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the transaction, the chief executive officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now owns 14,829 shares of the company’s stock, valued at $1,725,799.02. This trade represents a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,125 shares of company stock worth $6,613,584. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new position in Iron Mountain in the third quarter valued at approximately $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Iron Mountain in the second quarter valued at approximately $32,000. West Branch Capital LLC acquired a new position in Iron Mountain in the third quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Iron Mountain during the second quarter valued at approximately $36,000. Finally, Teachers Insurance & Annuity Association of America bought a new stake in shares of Iron Mountain during the third quarter valued at approximately $36,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

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.