Brokerages Set Iron Mountain Incorporated (NYSE:IRM) PT at $95.29

Iron Mountain Incorporated (NYSE:IRM) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $95.29.

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

Iron Mountain Price Performance

Shares of IRM opened at $108.30 on Friday. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.79. Iron Mountain has a fifty-two week low of $56.51 and a fifty-two week high of $112.79. The firm has a 50-day simple moving average of $96.67 and a 200-day simple moving average of $84.01. The company has a market capitalization of $31.75 billion, a price-to-earnings ratio of 164.09, a price-to-earnings-growth ratio of 6.49 and a beta of 0.98.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.59). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the company earned $0.94 earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. On average, equities research analysts anticipate that Iron Mountain will post 4.22 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is 433.33%.

Insider Activity at Iron Mountain

In other news, COO John Tomovcsik sold 2,866 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $105.00, for a total value of $300,930.00. Following the completion of the sale, the chief operating officer now owns 15,000 shares of the company’s stock, valued at $1,575,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $81.03, for a total value of $1,286,351.25. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $23,956,519.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO John Tomovcsik sold 2,866 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $105.00, for a total value of $300,930.00. Following the transaction, the chief operating officer now owns 15,000 shares of the company’s stock, valued at approximately $1,575,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,372 shares of company stock worth $8,516,435. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Iron Mountain

A number of institutional investors have recently made changes to their positions in IRM. Cohen & Steers Inc. raised its stake in Iron Mountain by 202.1% during the 4th quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock valued at $1,572,936,000 after purchasing an additional 15,035,937 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Iron Mountain by 11.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock worth $365,931,000 after acquiring an additional 475,849 shares in the last quarter. Legal & General Group Plc boosted its position in Iron Mountain by 49.2% during the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after purchasing an additional 1,286,694 shares during the period. Norges Bank acquired a new position in Iron Mountain in the 4th quarter valued at $228,391,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Iron Mountain by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,157,681 shares of the financial services provider’s stock valued at $220,975,000 after purchasing an additional 81,741 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

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.