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

Iron Mountain Incorporated (NYSE:IRM) has received an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $78.33.

Several equities research analysts have commented on IRM shares. Wells Fargo & Company upped their price target on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. The Goldman Sachs Group upped their target price on Iron Mountain from $89.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Barclays increased their price target on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th.

Insider Activity at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 4,458 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $80.21, for a total transaction of $357,576.18. Following the transaction, the executive vice president now owns 62,938 shares of the company’s stock, valued at approximately $5,048,256.98. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Iron Mountain news, EVP Mark Kidd sold 4,458 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $80.21, for a total transaction of $357,576.18. Following the transaction, the executive vice president now owns 62,938 shares of the company’s stock, valued at approximately $5,048,256.98. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO John Tomovcsik sold 35,084 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $88.76, for a total value of $3,114,055.84. Following the transaction, the chief operating officer now directly owns 20,366 shares in the company, valued at approximately $1,807,686.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,511 shares of company stock valued at $8,787,218. Insiders own 2.10% of the company’s stock.

Institutional Trading of Iron Mountain

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jaffetilchin Investment Partners LLC raised its position in shares of Iron Mountain by 1.1% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 11,432 shares of the financial services provider’s stock worth $917,000 after purchasing an additional 122 shares during the period. Checchi Capital Advisers LLC increased its position in Iron Mountain by 1.6% in the 1st quarter. Checchi Capital Advisers LLC now owns 9,097 shares of the financial services provider’s stock valued at $730,000 after acquiring an additional 146 shares during the period. Chesley Taft & Associates LLC increased its position in Iron Mountain by 1.0% in the 1st quarter. Chesley Taft & Associates LLC now owns 14,650 shares of the financial services provider’s stock valued at $1,175,000 after acquiring an additional 150 shares during the period. Crown Wealth Group LLC increased its position in Iron Mountain by 3.5% in the 1st quarter. Crown Wealth Group LLC now owns 4,543 shares of the financial services provider’s stock valued at $364,000 after acquiring an additional 153 shares during the period. Finally, Global Retirement Partners LLC increased its position in Iron Mountain by 1.7% in the 4th quarter. Global Retirement Partners LLC now owns 9,216 shares of the financial services provider’s stock valued at $612,000 after acquiring an additional 156 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

Shares of NYSE:IRM opened at $89.62 on Thursday. The firm has a market capitalization of $26.27 billion, a PE ratio of 135.79, a P/E/G ratio of 5.28 and a beta of 0.95. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50-day moving average of $82.25 and a two-hundred day moving average of $75.99. Iron Mountain has a 12 month low of $55.02 and a 12 month high of $90.40.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Monday, June 17th. Iron Mountain’s dividend payout ratio is currently 393.95%.

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.