Analysts Set Iron Mountain Incorporated (NYSE:IRM) Price Target at $73.80

Iron Mountain Incorporated (NYSE:IRM) has been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $73.80.

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

Insider Buying and Selling

In related 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 transaction, the chief executive officer now directly owns 432,682 shares in the company, valued at $34,138,609.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Iron Mountain news, CEO William L. Meaney sold 115,979 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $78.90, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $67.43, for a total transaction of $134,860.00. Following the completion of the sale, the executive vice president now directly owns 48,026 shares in the company, valued at $3,238,393.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 148,249 shares of company stock worth $11,480,926. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cohen & Steers Inc. boosted its holdings in Iron Mountain by 202.1% during the 4th quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock valued at $1,572,936,000 after acquiring an additional 15,035,937 shares during the period. Moneta Group Investment Advisors LLC purchased a new position in shares of Iron Mountain in the fourth quarter valued at approximately $224,698,000. Norges Bank acquired a new position in shares of Iron Mountain in the fourth quarter valued at approximately $228,391,000. Wellington Management Group LLP increased its stake in Iron Mountain by 315.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock worth $179,079,000 after buying an additional 2,286,711 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in Iron Mountain by 60.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after buying an additional 1,546,592 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Trading Down 1.6 %

IRM stock opened at $74.84 on Friday. Iron Mountain has a 52-week low of $52.05 and a 52-week high of $82.19. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78. The firm has a market cap of $21.87 billion, a P/E ratio of 118.80, a PEG ratio of 4.57 and a beta of 0.94. The company’s 50-day simple moving average is $76.05 and its 200-day simple moving average is $68.31.

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

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were given a dividend of $0.65 per share. The ex-dividend date was Thursday, March 14th. This represents a $2.60 annualized dividend and a dividend yield of 3.47%. Iron Mountain’s payout ratio is 412.70%.

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.