Iron Mountain Incorporated (NYSE:IRM) Receives $131.00 Average Price Target from Analysts

Iron Mountain Incorporated (NYSE:IRM) has earned an average recommendation of “Buy” from the seven ratings firms that are covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $131.00.

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

Insiders Place Their Bets

In related news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $118.97, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 63,497 shares of company stock valued at $7,417,731 in the last three months. Insiders own 2.10% of the company’s stock.

Institutional Trading of Iron Mountain

A number of institutional investors and hedge funds have recently modified their holdings of IRM. Ashton Thomas Securities LLC acquired a new stake in Iron Mountain in the 3rd quarter valued at approximately $31,000. West Branch Capital LLC bought a new stake in shares of Iron Mountain in the third quarter valued at approximately $33,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Iron Mountain in the third quarter worth $36,000. Family Firm Inc. bought a new position in Iron Mountain during the second quarter worth $45,000. Finally, Dunhill Financial LLC raised its stake in Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 152 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $105.10 on Thursday. Iron Mountain has a 52-week low of $64.68 and a 52-week high of $130.24. The stock has a market capitalization of $30.84 billion, a price-to-earnings ratio of 291.95, a PEG ratio of 6.77 and a beta of 0.98. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. The stock’s fifty day simple moving average is $118.90 and its 200 day simple moving average is $109.20.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be paid a $0.715 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.72%. Iron Mountain’s dividend payout ratio (DPR) is currently 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.