Iron Mountain Incorporated (NYSE:IRM) Receives $129.40 Consensus Price Target from Analysts

Shares of Iron Mountain Incorporated (NYSE:IRM) have been assigned a consensus rating of “Buy” from the seven analysts that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $131.00.

Several research firms recently commented on IRM. Barclays dropped their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Wells Fargo & Company raised their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada upped their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, November 11th. The shares were 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 approximately $35,173,480.50. The trade was a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the sale, the director now directly owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. The trade was a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,125 shares of company stock valued at $6,613,584. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of Iron Mountain in the third quarter worth about $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Iron Mountain during the 2nd quarter valued at approximately $32,000. West Branch Capital LLC purchased a new stake in Iron Mountain during the 3rd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Iron Mountain in the 2nd quarter valued at approximately $36,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in shares of Iron Mountain during the 3rd quarter valued at approximately $36,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Up 0.5 %

IRM stock opened at $124.24 on Friday. The company has a 50 day moving average price of $120.22 and a two-hundred day moving average price of $105.40. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $36.46 billion, a P/E ratio of 345.11, a PEG ratio of 7.26 and a beta of 0.99. Iron Mountain has a one year low of $62.95 and a one year high of $130.24.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio is presently 794.44%.

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.