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

Iron Mountain Incorporated (NYSE:IRM) has been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the company, Marketbeat.com reports. One 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 recently commented on the stock. Wells Fargo & Company upped their price target on shares of Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Stifel Nicolaus boosted 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. Finally, 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 note on Friday, August 2nd.

Iron Mountain Stock Performance

Shares of Iron Mountain stock opened at $112.85 on Friday. The company has a market capitalization of $33.08 billion, a PE ratio of 170.98, a price-to-earnings-growth ratio of 6.49 and a beta of 0.98. Iron Mountain has a 52 week low of $56.51 and a 52 week high of $112.93. The company has a quick ratio of 0.86, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The stock’s fifty day moving average is $98.06 and its two-hundred day moving average is $84.77.

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

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be given a $0.715 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 433.33%.

Insider Activity

In other news, Director Walter C. Rakowich sold 954 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $81.33, for a total value of $77,588.82. Following the transaction, the director now directly owns 35,166 shares of the company’s stock, valued at $2,860,050.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO John Tomovcsik sold 35,084 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $88.76, for a total value of $3,114,055.84. Following the completion of the transaction, the chief operating officer now owns 20,366 shares of the company’s stock, valued at approximately $1,807,686.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Walter C. Rakowich sold 954 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $81.33, for a total value of $77,588.82. Following the sale, the director now directly owns 35,166 shares in the company, valued at $2,860,050.78. The disclosure for this sale can be found here. Insiders have sold 99,634 shares of company stock valued at $8,874,690 over the last ninety days. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Iron Mountain

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Iron Mountain during the second quarter worth $32,000. Transcendent Capital Group LLC purchased a new stake in shares of Iron Mountain during the 4th quarter worth about $36,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Iron Mountain during the 2nd quarter valued at about $36,000. Heritage Wealth Advisors purchased a new position in shares of Iron Mountain in the 4th quarter valued at about $38,000. Finally, Headlands Technologies LLC acquired a new position in Iron Mountain in the 1st quarter worth about $38,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

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.