Brokerages Set Iron Mountain Incorporated (NYSE:IRM) Price Target at $125.67

Iron Mountain Incorporated (NYSE:IRM) has been assigned a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $125.67.

IRM has been the topic of a number of analyst reports. Barclays dropped their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Monday, March 31st. JPMorgan Chase & Co. decreased 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. Finally, Wells Fargo & Company dropped their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total transaction of $5,952,353.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the sale, the executive vice president now directly owns 13,054 shares in the company, valued at $1,211,933.36. This trade represents a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 318,973 shares of company stock worth $29,370,872. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

Several institutional investors have recently made changes to their positions in IRM. Key Financial Inc increased its holdings in shares of Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC bought a new position in Iron Mountain in the 4th quarter worth about $26,000. IMG Wealth Management Inc. bought a new stake in shares of Iron Mountain during the fourth quarter valued at approximately $26,000. Franchise Capital Ltd bought a new stake in shares of Iron Mountain during the first quarter valued at approximately $39,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Iron Mountain by 46.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock worth $51,000 after buying an additional 155 shares during the period. 80.13% of the stock is owned by institutional investors.

Iron Mountain Price Performance

Iron Mountain stock opened at $77.31 on Friday. The company has a market cap of $22.71 billion, a price-to-earnings ratio of 126.74, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. Iron Mountain has a 12 month low of $73.53 and a 12 month high of $130.24. The stock’s 50-day moving average is $92.35 and its 200-day moving average is $107.29.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the business posted $0.52 EPS. Research analysts anticipate that Iron Mountain will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were given a dividend of $0.785 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 4.06%. Iron Mountain’s dividend payout ratio (DPR) is presently 514.75%.

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.