Iron Mountain Incorporated (NYSE:IRM) Receives Average Rating of “Buy” from Brokerages

Shares of Iron Mountain Incorporated (NYSE:IRM) have been assigned a consensus recommendation of “Buy” from the seven research firms that are presently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $131.00.

A number of brokerages have 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 report on Thursday, October 17th. Stifel Nicolaus increased their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada increased their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Barclays reduced their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, November 18th.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $118.97, for a total value of $1,888,648.75. Following the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $35,173,480.50. This represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the sale, the director now directly owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. This trade represents a 36.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,125 shares of company stock valued at $6,613,584 over the last three months. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Iron Mountain

Large investors have recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in Iron Mountain during the third quarter valued at approximately $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Iron Mountain during the 2nd quarter valued at $32,000. West Branch Capital LLC purchased a new position in Iron Mountain in the 3rd quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Iron Mountain in the second quarter worth $36,000. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in Iron Mountain during the third quarter valued at about $36,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

NYSE IRM opened at $123.67 on Friday. The firm has a market cap of $36.29 billion, a P/E ratio of 343.54, a price-to-earnings-growth ratio of 7.47 and a beta of 0.99. 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 company’s 50 day moving average is $120.59 and its 200-day moving average is $105.84. Iron Mountain has a 12-month low of $62.95 and a 12-month high of $130.24.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s payout ratio is 794.47%.

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.