Iron Mountain Incorporated (NYSE:IRM) Receives $113.00 Consensus Target Price from Analysts

Shares of Iron Mountain Incorporated (NYSE:IRM) have been assigned an average rating of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $113.25.

IRM has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Barclays raised their price objective on Iron Mountain from $126.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a report on Thursday, January 22nd.

Iron Mountain Price Performance

Shares of IRM opened at $111.19 on Tuesday. The firm has a market capitalization of $32.89 billion, a price-to-earnings ratio of 231.65 and a beta of 1.16. Iron Mountain has a 1-year low of $72.33 and a 1-year high of $111.63. The company has a 50-day moving average of $91.71 and a 200 day moving average of $94.26.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Monday, March 16th will be issued a $0.864 dividend. This represents a $3.46 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, March 16th. Iron Mountain’s payout ratio is presently 720.83%.

Insider Activity

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $83.10, for a total transaction of $498,600.00. Following the transaction, the executive vice president directly owned 55,081 shares in the company, valued at $4,577,231.10. This represents a 9.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $83.34, for a total transaction of $5,760,877.50. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 119,607 shares of company stock worth $9,970,025. 1.90% of the stock is owned by company insiders.

Institutional Trading of Iron Mountain

A number of hedge funds have recently bought and sold shares of IRM. Garton & Associates Financial Advisors LLC purchased a new position in shares of Iron Mountain in the 4th quarter valued at $25,000. Quent Capital LLC bought a new stake in Iron Mountain during the third quarter valued at about $27,000. Beaird Harris Wealth Management LLC boosted its position in Iron Mountain by 17,500.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 350 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in Iron Mountain in the third quarter valued at about $32,000. Finally, DV Equities LLC purchased a new position in Iron Mountain in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Company Profile

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.