Analysts Set Iron Mountain Incorporated (NYSE:IRM) Target Price at $116.60

Shares of Iron Mountain Incorporated (NYSE:IRM) have been given an average rating of “Moderate Buy” by the six analysts that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $116.60.

Several research analysts have recently issued reports on the company. Loop Capital set a $130.00 target price on Iron Mountain in a research report on Wednesday, March 4th. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Finally, Barclays increased their price objective on Iron Mountain from $126.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd.

Insider Buying and Selling

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $107.27, for a total value of $643,620.00. Following the sale, the executive vice president owned 131,507 shares in the company, valued at approximately $14,106,755.89. This represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jennifer Allerton sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $108.88, for a total transaction of $762,160.00. Following the transaction, the director directly owned 11,541 shares of the company’s stock, valued at $1,256,584.08. This represents a 37.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 391,931 shares of company stock worth $41,180,243 in the last three months. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of Iron Mountain

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Garton & Associates Financial Advisors LLC bought a new stake in Iron Mountain in the fourth quarter worth $25,000. Quent Capital LLC bought a new position in shares of Iron Mountain during the third quarter valued at $27,000. Beaird Harris Wealth Management LLC raised its position in shares of Iron Mountain by 17,500.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 350 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Iron Mountain in the 3rd quarter worth about $32,000. Finally, Bayban bought a new position in Iron Mountain in the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of IRM opened at $105.94 on Friday. Iron Mountain has a one year low of $72.33 and a one year high of $115.24. The company has a 50-day simple moving average of $100.56 and a two-hundred day simple moving average of $96.20. The firm has a market capitalization of $31.34 billion, a PE ratio of 220.71 and a beta of 1.13.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Monday, March 16th will be given a $0.864 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.3%. Iron Mountain’s dividend payout ratio is currently 720.83%.

Iron Mountain Company Profile

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.