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

Shares of Iron Mountain Incorporated (NYSE:IRM) have earned an average recommendation of “Buy” from the six brokerages that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $129.40.

IRM has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. The Goldman Sachs Group boosted their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Stifel Nicolaus boosted their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, Wells Fargo & Company increased their target price on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $119.10 on Friday. The business’s 50-day simple moving average is $119.86 and its 200-day simple moving average is $104.48. Iron Mountain has a 52 week low of $62.58 and a 52 week high of $130.24. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market cap of $34.95 billion, a price-to-earnings ratio of 330.83, a P/E/G ratio of 7.11 and a beta of 0.99.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be given a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.40%. Iron Mountain’s dividend payout ratio is currently 794.44%.

Insider Activity

In other news, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now directly owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. This represents a 36.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,697,484. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,125 shares of company stock worth $6,613,584. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Iron Mountain

Institutional investors and hedge funds have recently made changes to their positions in the company. M&T Bank Corp boosted its position in Iron Mountain by 0.4% in the third quarter. M&T Bank Corp now owns 88,215 shares of the financial services provider’s stock valued at $10,482,000 after buying an additional 334 shares in the last quarter. Sunbelt Securities Inc. boosted its holdings in shares of Iron Mountain by 65.8% in the 3rd quarter. Sunbelt Securities Inc. now owns 864 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 343 shares in the last quarter. Toronto Dominion Bank grew its position in Iron Mountain by 1.4% during the 3rd quarter. Toronto Dominion Bank now owns 146,076 shares of the financial services provider’s stock worth $17,358,000 after acquiring an additional 2,010 shares during the last quarter. Coldstream Capital Management Inc. increased its holdings in Iron Mountain by 7.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 7,105 shares of the financial services provider’s stock valued at $843,000 after purchasing an additional 497 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Iron Mountain by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider’s stock valued at $978,479,000 after purchasing an additional 128,622 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

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.