Brokerages Set Iron Mountain Incorporated (NYSE:IRM) Target Price at $121.71

Iron Mountain Incorporated (NYSE:IRM - Get Free Report) has earned an average rating of "Buy" from the eight analysts that are covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $121.71.

IRM has been the subject of a number of recent research reports. Wall Street Zen raised Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Truist Financial initiated coverage on Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 target price for the company. Barclays raised their target price on Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Finally, JPMorgan Chase & Co. cut their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th.

Iron Mountain Trading Down 1.0%

Iron Mountain stock traded down $1.01 during mid-day trading on Thursday, hitting $101.50. The company had a trading volume of 979,247 shares, compared to its average volume of 1,852,247. Iron Mountain has a 12-month low of $72.33 and a 12-month high of $130.24. The company's fifty day moving average is $93.42 and its 200-day moving average is $97.25. The company has a market capitalization of $29.95 billion, a price-to-earnings ratio of 166.39, a P/E/G ratio of 5.15 and a beta of 1.09.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.01. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business's revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.10 EPS. As a group, sell-side analysts expect that Iron Mountain will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Monday, June 16th. Iron Mountain's payout ratio is 765.85%.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $96.09, for a total value of $6,642,221.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Walter C. Rakowich sold 900 shares of Iron Mountain stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total value of $89,973.00. Following the completion of the transaction, the director now owns 36,515 shares of the company's stock, valued at $3,650,404.55. The trade was a 2.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 216,673 shares of company stock valued at $20,319,408 in the last three months. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Iron Mountain

Several hedge funds and other institutional investors have recently made changes to their positions in IRM. Key Financial Inc lifted its stake in Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after purchasing an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC purchased a new stake in Iron Mountain during the fourth quarter worth approximately $26,000. IMG Wealth Management Inc. purchased a new stake in Iron Mountain during the fourth quarter worth approximately $26,000. Cranbrook Wealth Management LLC purchased a new stake in Iron Mountain during the first quarter worth approximately $26,000. Finally, Financial Network Wealth Advisors LLC purchased a new stake in Iron Mountain during the first quarter worth approximately $26,000. Hedge funds and other institutional investors 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.