Analysts Set Iron Mountain Incorporated (NYSE:IRM) PT at $114.80

Shares of Iron Mountain Incorporated (NYSE:IRM) have received an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $114.80.

A number of analysts have commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Barclays raised their target price on shares of Iron Mountain from $122.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 12th. JPMorgan Chase & Co. upped their price target on shares of Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Jefferies Financial Group initiated coverage on shares of Iron Mountain in a research report on Monday, September 22nd. They set a “buy” rating and a $120.00 price objective on the stock. Finally, Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th.

Iron Mountain Trading Up 0.0%

Shares of IRM stock opened at $84.33 on Thursday. Iron Mountain has a 12 month low of $72.33 and a 12 month high of $121.00. The stock has a market cap of $24.93 billion, a P/E ratio of 159.12 and a beta of 1.14. The company has a 50 day simple moving average of $97.23 and a two-hundred day simple moving average of $97.49.

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

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th will be paid a $0.864 dividend. This represents a $3.46 dividend on an annualized basis and a dividend yield of 4.1%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Monday, December 15th. Iron Mountain’s dividend payout ratio is currently 592.45%.

Insider Activity at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $85.00, for a total transaction of $510,000.00. Following the completion of the sale, the executive vice president directly owned 61,081 shares of the company’s stock, valued at $5,191,885. This trade represents a 8.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $83.34, for a total transaction of $5,760,877.50. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 226,681 shares of company stock worth $21,799,375 in the last three months. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of Iron Mountain

A number of institutional investors and hedge funds have recently bought and sold shares of IRM. Koshinski Asset Management Inc. grew its position in shares of Iron Mountain by 2.0% during the third quarter. Koshinski Asset Management Inc. now owns 5,108 shares of the financial services provider’s stock valued at $521,000 after purchasing an additional 98 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its stake in Iron Mountain by 3.6% during the third quarter. NorthCrest Asset Manangement LLC now owns 2,929 shares of the financial services provider’s stock valued at $310,000 after buying an additional 103 shares during the last quarter. Continuum Advisory LLC grew its holdings in Iron Mountain by 5.3% during the 3rd quarter. Continuum Advisory LLC now owns 2,077 shares of the financial services provider’s stock valued at $212,000 after buying an additional 104 shares in the last quarter. Natural Investments LLC increased its stake in Iron Mountain by 3.1% in the 3rd quarter. Natural Investments LLC now owns 3,581 shares of the financial services provider’s stock worth $365,000 after acquiring an additional 107 shares during the last quarter. Finally, Merit Financial Group LLC raised its holdings in shares of Iron Mountain by 0.5% during the 3rd quarter. Merit Financial Group LLC now owns 19,930 shares of the financial services provider’s stock worth $2,032,000 after acquiring an additional 109 shares in the last quarter. 80.13% of the stock is currently 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.