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

Shares of Iron Mountain Incorporated (NYSE:IRM - Get Free Report) have been assigned an average rating of "Buy" from the seven analysts that are presently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $131.00.

A number of brokerages have recently issued reports on IRM. Wells Fargo & Company boosted their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Stifel Nicolaus upped 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. BNP Paribas raised shares of Iron Mountain to a "strong-buy" rating in a research note on Wednesday, November 6th. Royal Bank of Canada increased their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 27th. Finally, Barclays decreased their target price on Iron Mountain from $133.00 to $131.00 and set an "overweight" rating for the company in a research report on Monday, November 18th.

Insider Activity

In related news, CEO William L. Meaney sold 15,875 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company's stock, valued at $35,173,480.50. This represents a 5.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 15,872 shares of the firm's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,497 shares of company stock worth $7,417,731. Corporate insiders own 2.10% of the company's stock.

Institutional Trading of Iron Mountain

Institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its stake in shares of Iron Mountain by 2.8% during the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider's stock worth $6,402,000 after buying an additional 1,446 shares during the period. Friedenthal Financial purchased a new position in Iron Mountain in the 3rd quarter worth $824,000. Tidal Investments LLC lifted its position in Iron Mountain by 254.1% during the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider's stock worth $2,440,000 after acquiring an additional 14,737 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of Iron Mountain in the third quarter valued at about $24,122,000. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Iron Mountain by 36.1% in the third quarter. Oppenheimer & Co. Inc. now owns 19,192 shares of the financial services provider's stock worth $2,281,000 after purchasing an additional 5,086 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Trading Down 1.5 %

IRM traded down $1.59 during trading hours on Thursday, reaching $101.62. 3,251,896 shares of the company's stock traded hands, compared to its average volume of 1,599,505. 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 firm has a 50-day moving average price of $119.55 and a 200 day moving average price of $109.08. Iron Mountain has a 52-week low of $64.68 and a 52-week high of $130.24. The firm has a market capitalization of $29.82 billion, a PE ratio of 282.29, a PEG ratio of 6.77 and a beta of 0.98.

Iron Mountain Dividend Announcement

The business also recently disclosed 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. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain's dividend payout ratio (DPR) is currently 794.44%.

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.