Iron Mountain Incorporated (NYSE:IRM) Receives $73.80 Consensus Target Price from Analysts

Shares of Iron Mountain Incorporated (NYSE:IRM) have been assigned an average rating of “Moderate Buy” from the five analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $73.80.

A number of equities analysts recently commented on IRM shares. Barclays increased their price objective on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Wells Fargo & Company upped their target price on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. TheStreet cut Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. Finally, Stifel Nicolaus upped their target price on Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd.

Insider Activity

In other news, CEO William L. Meaney sold 115,979 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $78.90, for a total value of $9,150,743.10. Following the completion of the sale, the chief executive officer now directly owns 432,682 shares of the company’s stock, valued at $34,138,609.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Daniel Borges sold 996 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $80.00, for a total value of $79,680.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,095 shares in the company, valued at $247,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 115,979 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $78.90, for a total value of $9,150,743.10. Following the completion of the transaction, the chief executive officer now owns 432,682 shares of the company’s stock, valued at $34,138,609.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 164,124 shares of company stock valued at $12,698,221. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Chesley Taft & Associates LLC raised its stake in shares of Iron Mountain by 1.0% in the first quarter. Chesley Taft & Associates LLC now owns 14,650 shares of the financial services provider’s stock valued at $1,175,000 after purchasing an additional 150 shares in the last quarter. Global Retirement Partners LLC raised its stake in Iron Mountain by 1.7% during the fourth quarter. Global Retirement Partners LLC now owns 9,216 shares of the financial services provider’s stock worth $612,000 after acquiring an additional 156 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in Iron Mountain by 17.1% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,171 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 171 shares in the last quarter. J.W. Cole Advisors Inc. raised its stake in Iron Mountain by 2.8% during the third quarter. J.W. Cole Advisors Inc. now owns 6,429 shares of the financial services provider’s stock worth $382,000 after acquiring an additional 177 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in Iron Mountain by 4.0% during the fourth quarter. Federated Hermes Inc. now owns 4,599 shares of the financial services provider’s stock worth $322,000 after acquiring an additional 179 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Trading Up 0.9 %

NYSE:IRM opened at $75.10 on Friday. The stock’s 50 day moving average price is $76.56 and its 200 day moving average price is $68.62. Iron Mountain has a 52 week low of $52.81 and a 52 week high of $82.19. The company has a market capitalization of $21.95 billion, a P/E ratio of 119.21, a P/E/G ratio of 4.52 and a beta of 0.94. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the company posted $0.98 EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis. On average, research analysts forecast that Iron Mountain will post 4.16 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were given a $0.65 dividend. The ex-dividend date was Thursday, March 14th. This represents a $2.60 annualized dividend and a dividend yield of 3.46%. Iron Mountain’s dividend payout ratio is 412.70%.

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.