Brokerages Set Iron Mountain Incorporated (NYSE:IRM) PT at $129.17

Iron Mountain Incorporated (NYSE:IRM) has received a consensus rating of “Buy” from the seven ratings firms that are covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $129.17.

Several research firms recently issued reports on IRM. 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 report on Tuesday, February 4th. Barclays dropped their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Royal Bank of Canada boosted their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. Finally, BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th.

Iron Mountain Stock Performance

IRM opened at $95.20 on Friday. Iron Mountain has a 52-week low of $66.86 and a 52-week high of $130.24. The firm has a market capitalization of $27.94 billion, a PE ratio of 264.44, a PEG ratio of 5.84 and a beta of 1.01. The business’s 50-day simple moving average is $105.94 and its 200 day simple moving average is $112.73.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a $0.785 dividend. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.30%. Iron Mountain’s dividend payout ratio is presently 794.47%.

Insider Activity

In other news, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 15,872 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were 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. Over the last quarter, insiders have sold 162,391 shares of company stock valued at $16,805,912. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Iron Mountain

A number of large investors have recently added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC grew its position in Iron Mountain by 1.5% during the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock worth $711,000 after buying an additional 89 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Iron Mountain by 0.8% during the third quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock worth $1,351,000 after buying an additional 92 shares in the last quarter. Geller Advisors LLC grew its position in Iron Mountain by 2.9% during the third quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock worth $403,000 after buying an additional 96 shares in the last quarter. Schmidt P J Investment Management Inc. grew its position in Iron Mountain by 3.6% during the third quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock worth $340,000 after buying an additional 100 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in Iron Mountain by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider’s stock worth $2,644,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

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.