Iron Mountain Incorporated (NYSE:IRM) Receives $131.00 Consensus PT from Analysts

Iron Mountain Incorporated (NYSE:IRM - Get Free Report) has earned an average rating of "Buy" from the seven research firms that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $131.00.

Several research analysts recently commented on IRM shares. Wells Fargo & Company boosted their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. Royal Bank of Canada boosted their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 27th. BNP Paribas upgraded shares of Iron Mountain to a "strong-buy" rating in a research note on Wednesday, November 6th. Barclays lowered their target price 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. Finally, Stifel Nicolaus lifted their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, September 23rd.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total value of $7,248,385.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,874,874. The trade was a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 125,016 shares of company stock worth $13,666,427 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in IRM. LPL Financial LLC grew its position in shares of Iron Mountain by 9.5% in the second quarter. LPL Financial LLC now owns 501,499 shares of the financial services provider's stock valued at $44,944,000 after purchasing an additional 43,498 shares during the period. American Century Companies Inc. increased its stake in Iron Mountain by 5.7% during the 2nd quarter. American Century Companies Inc. now owns 828,630 shares of the financial services provider's stock worth $74,262,000 after buying an additional 44,574 shares in the last quarter. Main Street Financial Solutions LLC acquired a new position in shares of Iron Mountain during the second quarter valued at approximately $208,000. Meeder Advisory Services Inc. lifted its position in shares of Iron Mountain by 22.9% in the second quarter. Meeder Advisory Services Inc. now owns 3,295 shares of the financial services provider's stock valued at $295,000 after acquiring an additional 615 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Iron Mountain by 1.2% in the second quarter. Federated Hermes Inc. now owns 50,547 shares of the financial services provider's stock worth $4,530,000 after acquiring an additional 614 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Iron Mountain Price Performance

NYSE IRM traded up $3.99 during midday trading on Monday, hitting $110.17. 1,832,214 shares of the company traded hands, compared to its average volume of 1,970,270. Iron Mountain has a 52 week low of $64.68 and a 52 week high of $130.24. The company's 50-day simple moving average is $111.70 and its 200-day simple moving average is $111.46. The company has a market cap of $32.33 billion, a PE ratio of 306.02, a price-to-earnings-growth ratio of 5.56 and a beta of 1.02.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were paid a $0.715 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.60%. Iron Mountain's payout ratio is currently 794.47%.

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.