Iron Mountain Incorporated (NYSE:IRM) Receives $115.40 Consensus Target Price from Brokerages

Shares of Iron Mountain Incorporated (NYSE:IRM) have earned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $115.40.

Several research analysts have recently issued reports on IRM shares. JPMorgan Chase & Co. increased their price objective on shares of Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Barclays reiterated an “overweight” rating and set a $126.00 price target on shares of Iron Mountain in a research report on Tuesday, January 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a report on Thursday.

Insider Activity at Iron Mountain

In related news, EVP Mark Kidd sold 7,306 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $100.82, for a total value of $736,590.92. Following the sale, the executive vice president directly owned 73,081 shares in the company, valued at $7,368,026.42. The trade was a 9.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $83.34, for a total transaction of $5,760,877.50. The SEC filing for this sale provides additional information. Insiders sold a total of 202,038 shares of company stock worth $18,424,270 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Iron Mountain

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Iron Mountain by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 47,253,100 shares of the financial services provider’s stock valued at $4,816,981,000 after purchasing an additional 188,213 shares during the period. State Street Corp lifted its stake in Iron Mountain by 1.9% during the third quarter. State Street Corp now owns 17,131,787 shares of the financial services provider’s stock valued at $1,759,494,000 after buying an additional 322,144 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Iron Mountain by 18.1% in the third quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider’s stock worth $516,481,000 after buying an additional 776,933 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Iron Mountain by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 4,348,039 shares of the financial services provider’s stock worth $443,222,000 after acquiring an additional 55,273 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Iron Mountain during the second quarter valued at approximately $419,457,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Price Performance

Shares of IRM stock opened at $93.59 on Friday. Iron Mountain has a 12-month low of $72.33 and a 12-month high of $112.18. The firm has a market capitalization of $27.66 billion, a price-to-earnings ratio of 176.59 and a beta of 1.13. The business has a 50 day simple moving average of $85.85 and a 200 day simple moving average of $93.99.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.03. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. Iron Mountain had a negative return on equity of 112.70% and a net margin of 2.40%.The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.13 EPS. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. On average, equities analysts anticipate that Iron Mountain will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th were given a dividend of $0.864 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.79. The ex-dividend date was Monday, December 15th. This represents a $3.46 annualized dividend and a dividend yield of 3.7%. Iron Mountain’s payout ratio is 652.83%.

About Iron Mountain

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.