Analysts Set Iron Mountain Incorporated (NYSE:IRM) Target Price at $115.50

Iron Mountain Incorporated (NYSE:IRM) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $115.50.

A number of equities analysts recently commented on the company. Stifel Nicolaus lifted their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. lifted their price target on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Wells Fargo & Company lifted their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. The Goldman Sachs Group lifted their price target on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Barclays boosted their price objective on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th.

Insider Transactions at Iron Mountain

In other news, COO John Tomovcsik sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the sale, the chief operating officer now owns 14,000 shares in the company, valued at $1,540,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, COO John Tomovcsik sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the sale, the chief operating officer now directly owns 14,000 shares in the company, valued at approximately $1,540,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,637 shares of company stock worth $3,210,575 over the last quarter. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Iron Mountain

Several institutional investors have recently made changes to their positions in IRM. State Board of Administration of Florida Retirement System raised its position in Iron Mountain by 2.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider’s stock valued at $25,787,000 after purchasing an additional 7,486 shares in the last quarter. Friedenthal Financial acquired a new position in Iron Mountain during the third quarter valued at approximately $824,000. Price T Rowe Associates Inc. MD raised its position in Iron Mountain by 22.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock valued at $47,547,000 after purchasing an additional 110,551 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Iron Mountain by 19.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock valued at $6,794,000 after purchasing an additional 12,540 shares in the last quarter. Finally, Centersquare Investment Management LLC raised its position in Iron Mountain by 7,892.6% during the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after purchasing an additional 1,519,237 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Trading Up 2.8 %

Iron Mountain stock opened at $125.73 on Wednesday. Iron Mountain has a 52 week low of $58.55 and a 52 week high of $130.24. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market capitalization of $36.88 billion, a P/E ratio of 161.19, a PEG ratio of 7.26 and a beta of 0.99. The stock has a 50-day simple moving average of $118.72 and a 200 day simple moving average of $100.72.

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.