Analysts Set Iron Mountain Incorporated (NYSE:IRM) Target Price at $113.00

Shares of Iron Mountain Incorporated (NYSE:IRM) have been given an average recommendation of “Moderate Buy” by the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $113.00.

IRM has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Finally, Barclays reissued an “overweight” rating and issued a $126.00 target price on shares of Iron Mountain in a research report on Tuesday, January 13th.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $110.24 on Tuesday. The firm’s 50 day moving average price is $91.13 and its 200-day moving average price is $94.10. Iron Mountain has a 52-week low of $72.33 and a 52-week high of $111.63. The company has a market cap of $32.61 billion, a PE ratio of 229.66 and a beta of 1.16.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Monday, March 16th will be given a dividend of $0.864 per share. The ex-dividend date is Monday, March 16th. This represents a $3.46 dividend on an annualized basis and a yield of 3.1%. Iron Mountain’s dividend payout ratio is 720.83%.

Insider Buying and Selling

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $83.10, for a total value of $498,600.00. Following the completion of the sale, the executive vice president owned 55,081 shares of the company’s stock, valued at approximately $4,577,231.10. The trade was a 9.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 38,482 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $83.17, for a total value of $3,200,547.94. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 119,607 shares of company stock valued at $9,970,025. 1.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Iron Mountain

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Intact Investment Management Inc. purchased a new position in shares of Iron Mountain during the 3rd quarter valued at about $3,588,000. Sei Investments Co. increased its holdings in Iron Mountain by 4.2% in the 2nd quarter. Sei Investments Co. now owns 885,080 shares of the financial services provider’s stock worth $90,783,000 after acquiring an additional 35,301 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Iron Mountain by 11.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 65,386 shares of the financial services provider’s stock worth $6,707,000 after acquiring an additional 6,937 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its stake in Iron Mountain by 17.2% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 103,960 shares of the financial services provider’s stock worth $10,598,000 after acquiring an additional 15,225 shares during the period. Finally, AGF Management Ltd. lifted its holdings in Iron Mountain by 178.0% during the third quarter. AGF Management Ltd. now owns 22,185 shares of the financial services provider’s stock valued at $2,262,000 after purchasing an additional 14,205 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

About Iron Mountain

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.