Brokerages Set Iron Mountain Incorporated (NYSE:IRM) Price Target at $131.00

Shares of Iron Mountain Incorporated (NYSE:IRM) have received a consensus rating of “Buy” from the seven research firms that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $131.00.

IRM has been the topic of a number of recent research reports. Stifel Nicolaus increased their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada boosted their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Barclays dropped their price objective on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. Finally, Wells Fargo & Company increased their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th.

Iron Mountain Price Performance

NYSE:IRM opened at $109.19 on Monday. The firm has a market cap of $32.04 billion, a PE ratio of 303.31, a price-to-earnings-growth ratio of 5.56 and a beta of 1.02. The company has a 50-day moving average of $111.35 and a 200 day moving average of $111.59. Iron Mountain has a 1-year low of $65.01 and a 1-year high of $130.24.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were issued a dividend of $0.715 per share. The ex-dividend date was Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.62%. Iron Mountain’s dividend payout ratio (DPR) is currently 794.44%.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $117.96, for a total value of $1,872,615.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $34,874,874. This trade represents a 5.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. Insiders sold 125,016 shares of company stock valued at $13,666,427 in the last three months. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Iron Mountain

A number of institutional investors have recently bought and sold shares of IRM. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain in the 3rd quarter worth approximately $31,000. West Branch Capital LLC purchased a new stake in shares of Iron Mountain in the third quarter valued at approximately $33,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Iron Mountain during the 3rd quarter worth approximately $36,000. Dunhill Financial LLC lifted its position in shares of Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after buying an additional 152 shares in the last quarter. Finally, Quarry LP grew its stake in Iron Mountain by 86.5% in the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 230 shares during the period. 80.13% of the stock is owned by hedge funds and other 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.