Iron Mountain Incorporated (NYSE:IRM) Receives Consensus Recommendation of “Buy” from Analysts

Iron Mountain Incorporated (NYSE:IRM) has earned a consensus rating of “Buy” from the seven analysts that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $131.00.

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

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now owns 14,829 shares in the company, valued at approximately $1,725,799.02. This represents a 36.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at $34,697,484. The trade was a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,125 shares of company stock valued at $6,613,584. 2.10% of the stock is owned by company insiders.

Institutional Trading of Iron Mountain

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

Iron Mountain Stock Up 0.5 %

IRM stock opened at $124.24 on Friday. Iron Mountain has a fifty-two week low of $62.95 and a fifty-two week high of $130.24. The company’s 50 day moving average price is $120.22 and its 200 day moving average price is $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 firm has a market capitalization of $36.46 billion, a price-to-earnings ratio of 345.11, a PEG ratio of 7.26 and a beta of 0.99.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be given a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.30%. Iron Mountain’s dividend payout ratio (DPR) is 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.