Iron Mountain Incorporated (NYSE:IRM) Receives $120.17 Consensus Target Price from Analysts

Key Points

• Iron Mountain Incorporated (NYSE:IRM) has received a consensus rating of "Buy" from seven analysts, with six recommending a buy and one a strong buy, and an average 1-year price target of $120.17.
• The company recently reported earnings of $1.24 per share, which exceeded analysts' expectations, along with a revenue of $1.68 billion reflecting an 11.6% year-over-year growth.
• Iron Mountain has announced a quarterly dividend of $0.785 payable to shareholders on October 3rd, resulting in an annualized dividend yield of 3.4%.

Shares of Iron Mountain Incorporated (NYSE:IRM - Get Free Report) have received a consensus rating of "Buy" from the seven analysts that are presently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $120.1667.

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Barclays upped their target price on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th.

Iron Mountain Stock Up 0.1%

IRM traded up $0.13 during trading on Tuesday, reaching $92.00. 725,251 shares of the stock traded hands, compared to its average volume of 1,561,614. The stock has a market capitalization of $27.17 billion, a PE ratio of 657.19 and a beta of 1.07. The stock's 50-day moving average is $96.76 and its 200 day moving average is $93.52. Iron Mountain has a 12 month low of $72.33 and a 12 month high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.05. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The business had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the prior year, the firm posted $1.08 earnings per share. The business's quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Iron Mountain will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, September 15th. Iron Mountain's dividend payout ratio is currently 2,242.86%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $94.55, for a total value of $6,535,768.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Greg W. Mcintosh sold 17,334 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $100.00, for a total transaction of $1,733,400.00. Following the completion of the sale, the executive vice president directly owned 35,446 shares of the company's stock, valued at $3,544,600. The trade was a 32.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 231,609 shares of company stock worth $22,736,123. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IRM. Cranbrook Wealth Management LLC bought a new position in Iron Mountain in the 1st quarter worth approximately $26,000. Financial Network Wealth Advisors LLC bought a new stake in shares of Iron Mountain during the 1st quarter worth $26,000. Golden State Wealth Management LLC purchased a new position in Iron Mountain in the 1st quarter worth $30,000. Ramirez Asset Management Inc. purchased a new position in Iron Mountain in the 1st quarter worth $34,000. Finally, Wayfinding Financial LLC purchased a new position in Iron Mountain in the 1st quarter worth $37,000. 80.13% of the stock is owned by institutional investors.

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.