Iron Mountain Incorporated (NYSE:IRM) Receives $73.80 Consensus Target Price from Analysts

Shares of Iron Mountain Incorporated (NYSE:IRM) have earned an average rating of “Moderate Buy” from the five analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $73.80.

IRM has been the topic of a number of recent analyst reports. Barclays boosted their price objective on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Wells Fargo & Company increased their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. TheStreet downgraded shares of Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Finally, Stifel Nicolaus increased their price target on shares of Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd.

Insider Transactions at Iron Mountain

In other news, CAO Daniel Borges sold 996 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $80.00, for a total value of $79,680.00. Following the transaction, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at approximately $247,600. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $67.43, for a total transaction of $134,860.00. Following the completion of the transaction, the executive vice president now owns 48,026 shares in the company, valued at $3,238,393.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Daniel Borges sold 996 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $80.00, for a total transaction of $79,680.00. Following the completion of the sale, the chief accounting officer now owns 3,095 shares in the company, valued at $247,600. The disclosure for this sale can be found here. Insiders sold a total of 148,249 shares of company stock worth $11,480,926 in the last quarter. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Iron Mountain

Institutional investors and hedge funds have recently made changes to their positions in the company. Harbor Investment Advisory LLC grew its stake in Iron Mountain by 92.2% in the third quarter. Harbor Investment Advisory LLC now owns 417 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 200 shares during the period. Manchester Capital Management LLC grew its position in shares of Iron Mountain by 6,983.3% in the 3rd quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 419 shares during the period. Blue Trust Inc. increased its stake in Iron Mountain by 201.7% during the 4th quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 242 shares in the last quarter. First Capital Advisors Group LLC. bought a new position in Iron Mountain in the second quarter valued at approximately $25,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Iron Mountain in the fourth quarter valued at approximately $26,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Trading Down 1.6 %

Shares of IRM stock opened at $74.84 on Friday. The company has a market capitalization of $21.87 billion, a P/E ratio of 118.80, a P/E/G ratio of 4.57 and a beta of 0.94. Iron Mountain has a 12-month low of $52.05 and a 12-month high of $82.19. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78. The firm has a 50-day moving average price of $76.05 and a 200 day moving average price of $68.31.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.45 billion. Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 EPS. Research analysts forecast that Iron Mountain will post 4.16 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 3.47%. The ex-dividend date was Thursday, March 14th. Iron Mountain’s dividend payout ratio (DPR) is presently 412.70%.

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.