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

Shares of Iron Mountain Incorporated (NYSE:IRM) have earned an average rating of “Buy” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Six 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 target among analysts that have issued ratings on the stock in the last year is $131.00.

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

Insiders Place Their Bets

In other news, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $35,173,480.50. This represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,016 shares of company stock worth $13,666,427. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

Several hedge funds have recently made changes to their positions in IRM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Iron Mountain by 537.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock worth $376,756,000 after acquiring an additional 2,672,821 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Iron Mountain by 49.2% during the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after acquiring an additional 1,286,694 shares in the last quarter. Mizuho Securities USA LLC grew its stake in shares of Iron Mountain by 2,193.9% in the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock valued at $61,613,000 after buying an additional 495,898 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Iron Mountain by 12,953.4% in the third quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock valued at $53,312,000 after buying an additional 445,207 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. grew its stake in shares of Iron Mountain by 45.0% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock valued at $116,356,000 after buying an additional 402,625 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Up 1.8 %

Shares of NYSE:IRM opened at $105.95 on Monday. The firm has a market cap of $31.09 billion, a P/E ratio of 294.31, a P/E/G ratio of 6.70 and a beta of 1.02. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain has a 12 month low of $64.68 and a 12 month high of $130.24. The company’s 50-day moving average price is $111.87 and its two-hundred day moving average price is $111.50.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were issued a dividend of $0.715 per share. The ex-dividend date was Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.70%. Iron Mountain’s dividend payout ratio (DPR) is currently 794.44%.

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.