Analysts Set Iron Mountain Incorporated (NYSE:IRM) Price Target at $99.83

Shares of Iron Mountain Incorporated (NYSE:IRM) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $99.83.

A number of analysts have recently weighed in on IRM shares. JPMorgan Chase & Co. increased their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group lifted their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company upped their target price on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus lifted their price target on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, July 10th.

Insider Buying and Selling

In related news, COO John Tomovcsik sold 35,084 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $88.76, for a total transaction of $3,114,055.84. Following the sale, the chief operating officer now owns 20,366 shares of the company’s stock, valued at $1,807,686.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Iron Mountain news, EVP Edward Baker-Greene sold 6,200 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $88.35, for a total value of $547,770.00. Following the sale, the executive vice president now directly owns 11,311 shares of the company’s stock, valued at $999,326.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John Tomovcsik sold 35,084 shares of the firm’s 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 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. Insiders sold a total of 65,787 shares of company stock worth $6,025,002 in the last three months. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Iron Mountain

Several institutional investors have recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Iron Mountain in the second quarter worth approximately $32,000. Transcendent Capital Group LLC purchased a new stake in Iron Mountain during the 4th quarter valued at $36,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Iron Mountain in the 2nd quarter worth $36,000. Heritage Wealth Advisors purchased a new position in shares of Iron Mountain in the fourth quarter worth $38,000. Finally, Headlands Technologies LLC bought a new position in shares of Iron Mountain during the first quarter valued at $38,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Up 1.6 %

IRM opened at $118.19 on Tuesday. Iron Mountain has a 12 month low of $56.51 and a 12 month high of $118.46. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. The business’s 50-day moving average price is $106.61 and its 200-day moving average price is $90.31. The company has a market cap of $34.65 billion, a P/E ratio of 179.08, a P/E/G ratio of 6.85 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. Iron Mountain’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the firm earned $0.94 earnings per share. On average, equities analysts expect that Iron Mountain will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Monday, September 16th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s payout ratio is 433.33%.

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.