Brokerages Set Iron Mountain Incorporated (NYSE:IRM) Price Target at $127.67

Shares of Iron Mountain Incorporated (NYSE:IRM) have earned a consensus recommendation of “Buy” from the seven analysts that are currently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $127.67.

Several research firms have commented on IRM. Royal Bank of Canada increased their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. decreased their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Wells Fargo & Company decreased their price target 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. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Barclays decreased their price target on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the transaction, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at $21,681,924.66. This trade represents a 42.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction 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 approximately $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 343,114 shares of company stock valued at $33,323,682. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. OneDigital Investment Advisors LLC boosted its holdings in Iron Mountain by 1.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock valued at $711,000 after purchasing an additional 89 shares during the period. Geller Advisors LLC boosted its holdings in Iron Mountain by 2.9% in the 3rd quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock valued at $403,000 after purchasing an additional 96 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Iron Mountain by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider’s stock valued at $2,644,000 after purchasing an additional 100 shares during the period. Claro Advisors LLC lifted its holdings in shares of Iron Mountain by 0.6% during the 3rd quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock worth $1,986,000 after acquiring an additional 103 shares during the last quarter. Finally, Premier Path Wealth Partners LLC lifted its holdings in shares of Iron Mountain by 3.9% during the 4th quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider’s stock worth $299,000 after acquiring an additional 106 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $82.77 on Tuesday. The stock has a market cap of $24.31 billion, a price-to-earnings ratio of 135.68, a PEG ratio of 5.15 and a beta of 1.04. Iron Mountain has a fifty-two week low of $73.53 and a fifty-two week high of $130.24. The firm’s 50-day simple moving average is $101.12 and its 200 day simple moving average is $111.40.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.70). The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same quarter last year, the business posted $0.52 EPS. On average, sell-side analysts predict that Iron Mountain will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a $0.785 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.79%. Iron Mountain’s dividend payout ratio (DPR) is 514.75%.

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.