Analysts Set Iron Mountain Incorporated (NYSE:IRM) PT at $131.00

Iron Mountain Incorporated (NYSE:IRM) has earned an average rating of “Buy” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $131.00.

Several research firms have recently weighed in on IRM. Barclays decreased their price target on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Wells Fargo & Company increased their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Stifel Nicolaus increased their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, Royal Bank of Canada boosted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 15,872 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $35,173,480.50. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,497 shares of company stock worth $7,417,731. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Iron Mountain

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new position in Iron Mountain in the third quarter valued at approximately $31,000. West Branch Capital LLC acquired a new position in shares of Iron Mountain in the 3rd quarter worth approximately $33,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Iron Mountain during the 3rd quarter valued at $36,000. Dunhill Financial LLC raised its holdings in Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after buying an additional 152 shares during the period. Finally, Quarry LP boosted its stake in Iron Mountain by 86.5% in the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 230 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Up 0.1 %

IRM opened at $105.22 on Thursday. The firm has a 50-day simple moving average of $118.90 and a two-hundred day simple moving average of $109.59. Iron Mountain has a 52 week low of $64.68 and a 52 week high of $130.24. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. The company has a market capitalization of $30.88 billion, a PE ratio of 292.29, a price-to-earnings-growth ratio of 6.77 and a beta of 0.98.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be paid a dividend of $0.715 per share. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.72%. 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.