Iron Mountain Incorporated (NYSE:IRM) Receives $125.67 Average Price Target from Analysts

Shares of Iron Mountain Incorporated (NYSE:IRM) have been given an average rating of “Buy” by the seven research firms that are covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $125.67.

IRM has been the subject of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Wells Fargo & Company cut their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Barclays reduced their target price on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Finally, StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Monday.

Iron Mountain Trading Up 1.5 %

Shares of NYSE:IRM opened at $88.16 on Friday. The stock has a market cap of $25.90 billion, a PE ratio of 144.52, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain has a 1-year low of $73.53 and a 1-year high of $130.24. The stock’s fifty day simple moving average is $93.59 and its two-hundred day simple moving average is $107.75.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the company posted $0.52 EPS. On average, sell-side analysts forecast that Iron Mountain will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio (DPR) is 514.75%.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 172,552 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the sale, the chief executive officer now directly owns 237,402 shares in the company, valued at approximately $21,681,924.66. This represents a 42.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 249,848 shares of company stock worth $23,418,519 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its position in Iron Mountain by 2.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 7,078 shares of the financial services provider’s stock worth $609,000 after buying an additional 142 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Iron Mountain by 23.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 51,874 shares of the financial services provider’s stock worth $5,453,000 after buying an additional 9,937 shares during the period. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Iron Mountain during the fourth quarter valued at approximately $10,217,000. Comprehensive Money Management Services LLC bought a new position in Iron Mountain during the 4th quarter valued at approximately $1,499,000. Finally, Park Square Financial Group LLC bought a new position in shares of Iron Mountain during the fourth quarter valued at $314,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

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.