Brokerages Set Iron Mountain Incorporated (NYSE:IRM) PT at $125.67

Iron Mountain Incorporated (NYSE:IRM) has earned an average rating of “Buy” from the seven research firms that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $125.67.

A number of equities analysts recently commented on IRM shares. Wells Fargo & Company decreased their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. dropped their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Barclays decreased their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Finally, StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research note on Monday.

Iron Mountain Stock Performance

IRM opened at $86.14 on Friday. The company has a market capitalization of $25.30 billion, a PE ratio of 141.21, a P/E/G ratio of 5.15 and a beta of 1.04. The stock’s fifty day moving average is $94.51 and its 200-day moving average is $108.10. Iron Mountain has a one year low of $73.53 and a one year high of $130.24.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the prior year, the business posted $0.52 EPS. On average, equities research analysts forecast that Iron Mountain will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s dividend payout ratio (DPR) is 514.75%.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the transaction, the chief executive officer now directly owns 237,402 shares in the company, valued at approximately $21,681,924.66. The trade was a 42.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the sale, the chief accounting officer now owns 288 shares of the company’s stock, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 318,979 shares of company stock worth $30,666,904. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Iron Mountain

Institutional investors and hedge funds have recently bought and sold shares of the business. Merit Financial Group LLC lifted its holdings in shares of 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 valued at $1,570,000 after acquiring an additional 7,137 shares during the period. Tidal Investments LLC grew its stake in Iron Mountain by 254.1% during the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after buying an additional 14,737 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Iron Mountain by 151.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock worth $961,000 after buying an additional 5,511 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Iron Mountain in the third quarter valued at approximately $24,122,000. Finally, World Investment Advisors LLC acquired a new position in shares of Iron Mountain in the 3rd quarter worth approximately $554,000. Institutional investors own 80.13% of the company’s stock.

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.