Analysts Set Iron Mountain Incorporated (NYSE:IRM) Price Target at $118.67

Iron Mountain Incorporated (NYSE:IRM) has been assigned an average rating of “Moderate Buy” from the eight research firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $118.6667.

A number of brokerages recently commented on IRM. JPMorgan Chase & Co. lifted their price target on Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. Barclays increased their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Finally, Jefferies Financial Group began coverage on shares of Iron Mountain in a research report on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective on the stock.

Iron Mountain Trading Down 1.2%

NYSE:IRM opened at $101.09 on Friday. Iron Mountain has a 12 month low of $72.33 and a 12 month high of $125.38. The stock has a market capitalization of $29.88 billion, a price-to-earnings ratio of 722.12 and a beta of 1.06. The firm has a fifty day simple moving average of $101.62 and a two-hundred day simple moving average of $98.75.

Iron Mountain (NYSE:IRM) last issued its 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. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period last year, the business earned $1.13 EPS. Iron Mountain’s quarterly revenue was up 12.7% compared to the same quarter last year. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. Equities analysts predict that Iron Mountain will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Monday, December 15th will be issued 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 of this dividend is Monday, December 15th. This represents a $3.46 dividend on an annualized basis and a yield of 3.4%. Iron Mountain’s payout ratio is currently 650.94%.

Insider Buying and Selling

In other news, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $102.51, for a total value of $615,060.00. Following the transaction, the executive vice president owned 67,081 shares in the company, valued at approximately $6,876,473.31. The trade was a 8.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $102.75, for a total value of $7,102,593.75. 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 $22,265,632 in the last ninety days. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Iron Mountain

Several institutional investors and hedge funds have recently modified their holdings of IRM. Kestra Private Wealth Services LLC lifted its position in shares of Iron Mountain by 14.7% in the first quarter. Kestra Private Wealth Services LLC now owns 14,537 shares of the financial services provider’s stock worth $1,251,000 after buying an additional 1,860 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Iron Mountain by 86.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider’s stock worth $169,922,000 after acquiring an additional 913,715 shares in the last quarter. Penobscot Investment Management Company Inc. bought a new position in shares of Iron Mountain during the 2nd quarter valued at approximately $517,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Iron Mountain by 1.4% in the first quarter. Steward Partners Investment Advisory LLC now owns 38,032 shares of the financial services provider’s stock valued at $3,272,000 after purchasing an additional 513 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new stake in Iron Mountain in the second quarter worth $10,093,000. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Company Profile

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.