Iron Mountain Incorporated (NYSE:IRM) Receives $99.83 Consensus PT from Analysts

Shares of Iron Mountain Incorporated (NYSE:IRM) have received an average rating of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $99.83.

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

Iron Mountain Trading Up 1.7 %

Iron Mountain stock opened at $116.36 on Tuesday. The stock has a 50-day moving average price of $105.59 and a 200 day moving average price of $89.53. The company has a market capitalization of $34.11 billion, a price-to-earnings ratio of 176.30, a price-to-earnings-growth ratio of 6.56 and a beta of 1.00. Iron Mountain has a 52 week low of $56.51 and a 52 week high of $116.41. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63.

Iron Mountain (NYSE:IRM) last announced 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). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.94 earnings per share. Sell-side analysts anticipate that Iron Mountain will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.46%. The ex-dividend date is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s payout ratio is presently 433.33%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Edward Baker-Greene sold 6,200 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $88.35, for a total transaction of $547,770.00. Following the completion of the sale, the executive vice president now directly owns 11,311 shares in the company, valued at approximately $999,326.85. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Iron Mountain news, EVP Edward Baker-Greene sold 6,200 shares of the firm’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 transaction, the executive vice president now owns 11,311 shares in the company, valued at approximately $999,326.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Daniel Borges sold 3,095 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $86.83, for a total transaction of $268,738.85. The disclosure for this sale can be found here. Insiders have sold a total of 68,882 shares of company stock valued at $6,293,740 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IRM. Cohen & Steers Inc. lifted its position in Iron Mountain by 202.1% during the fourth quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock worth $1,572,936,000 after buying an additional 15,035,937 shares in the last quarter. Daiwa Securities Group Inc. boosted its position 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 valued at $365,931,000 after acquiring an additional 475,849 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Iron Mountain by 49.2% in the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after purchasing an additional 1,286,694 shares during the period. Norges Bank acquired a new stake in Iron Mountain during the fourth quarter worth about $228,391,000. Finally, AGF Management Ltd. raised its stake in Iron Mountain by 76.3% during the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after purchasing an additional 972,101 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

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.