Analysts Set Iron Mountain Incorporated (NYSE:IRM) PT at $73.80

Shares of Iron Mountain Incorporated (NYSE:IRM) have received a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $78.33.

A number of brokerages recently issued reports on IRM. Wells Fargo & Company upped their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, March 15th. The Goldman Sachs Group raised their price target on shares of Iron Mountain from $89.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, June 27th.

Iron Mountain Price Performance

NYSE:IRM opened at $91.74 on Thursday. The stock has a 50 day moving average price of $83.09 and a 200 day moving average price of $76.46. The stock has a market cap of $26.89 billion, a PE ratio of 139.00, a P/E/G ratio of 5.31 and a beta of 0.98. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.86. Iron Mountain has a one year low of $56.51 and a one year high of $92.72.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be given a dividend of $0.65 per share. The ex-dividend date is Monday, June 17th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.83%. Iron Mountain’s payout ratio is currently 393.95%.

Insider Activity at Iron Mountain

In other news, COO John Tomovcsik sold 35,084 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $88.76, for a total transaction of $3,114,055.84. Following the completion of the transaction, the chief operating officer now directly owns 20,366 shares in the company, valued at $1,807,686.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Iron Mountain news, CAO Daniel Borges sold 3,095 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $86.83, for a total transaction of $268,738.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO John Tomovcsik sold 35,084 shares of Iron Mountain stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $88.76, for a total value of $3,114,055.84. Following the completion of the transaction, the chief operating officer now owns 20,366 shares of the company’s stock, valued at $1,807,686.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,053 shares of company stock worth $8,429,641. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Iron Mountain

Several institutional investors have recently modified their holdings of IRM. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Iron Mountain in the 3rd quarter valued at $178,000. Federated Hermes Inc. grew its holdings in shares of Iron Mountain by 10.0% during the third quarter. Federated Hermes Inc. now owns 4,420 shares of the financial services provider’s stock worth $263,000 after purchasing an additional 403 shares during the last quarter. Natixis Advisors L.P. increased its position in shares of Iron Mountain by 16.9% during the third quarter. Natixis Advisors L.P. now owns 158,076 shares of the financial services provider’s stock worth $9,398,000 after purchasing an additional 22,816 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Iron Mountain by 14.4% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 7,776 shares of the financial services provider’s stock valued at $462,000 after purchasing an additional 979 shares during the last quarter. Finally, MQS Management LLC acquired a new stake in shares of Iron Mountain in the 3rd quarter valued at about $202,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

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.