Capital Research & Management Co recently announced the acquisition of new stake in Iron Mountain Incorporated (NYSE:IRM). The institutional investor has increased its shareholding in the Real Estate company by 3.25% to 25.48 million shares with purchase of 0.8 million shares. This fresh investment now brings its stake to 8.76% valued currently at $1.41 billion. In addition, Geode Capital Management LLC raised its holdings by 0.17 million to 6.94 million shares. And Dimensional Fund Advisors LP has lifted its position by 2.83% or 0.12 million shares – to 4.22 million shares.
With over 1.41 million Iron Mountain Incorporated (IRM) shares trading Tuesday and a closing price of $54.71 on the day, the dollar volume was approximately $77.23 million. The shares have shown a positive half year performance of 4.72% and its price on 05/23/23 lost nearly -0.60%. Currently, there are 291.44M common shares owned by the public and among those 288.19M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for IRM have a consensus price objective of $58.00. The analysts have set the share’s price value over the next 12 months at a high of $69.00 and a low of $20.00. The average price target is 5.2% above its recent price level and a downside to the estimated low will see the stock lose -173.55% over that period. But an upside of 20.71% will see the stock hit the forecast high price target while median target price for the stock is $63.00.
Insiders at the company have transacted a total of 112 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 48 of these insider trades were purchases, accounting for 633,758 shares. Insider sales of the common stock occurred on 64 occasions, with total insider shares sold totaling 534,915 shares.
The top 3 mutual fund holders in Iron Mountain Incorporated are Vanguard Real Estate Index Fund, American Funds Income Fund of Ame, and American Balanced Fund. Vanguard Real Estate Index Fund owns 12.81 million shares of the company’s stock, all valued at over $707.45 million. The company sold -0.11 million shares recently to bring their total holdings to about 4.40% of the shares outstanding. American Balanced Fund now owns shares totaling to 4.09% of the shares outstanding.
Shares of Iron Mountain Incorporated (NYSE: IRM) opened at $54.74, down -$0.3 from a prior closing price of $55.04. However, the script later moved the day high at 54.92, down -0.60%. The company’s stock has a 5-day price change of 0.66% and 8.06% over the past three months. IRM shares are trading 9.75% year to date (YTD), with the 12-month market performance up to 10.92% higher. It has a 12-month low price of $43.28 and touched a high of $57.21 over the same period. IRM has an average intraday trading volume of 1.28 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.92%, 2.47%, and 5.06% respectively.
Institutional ownership of Iron Mountain Incorporated (NYSE: IRM) shares accounts for 80.20% of the company’s 291.44M shares outstanding. Mutual fund holders own 26.06%, while other institutional holders and individual stakeholders account for 51.81% and 1.04% respectively.
It has a market capitalization of $15.90B and a beta (3y monthly) value of 0.94. The stock’s trailing 12-month PE ratio is 27.63, while the earnings-per-share (ttm) stands at $1.98. The company has a PEG of 4.25 and a Quick Ratio of 0.80 with the debt-to-equity ratio at 20.10. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.65% over the week and 1.72% over the month.
Analysts forecast that Iron Mountain Incorporated (IRM) will achieve an EPS of $Salesforce, Inc. for the current quarter, $206.64 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $iShares Russell 2000 ETF while analysts give the company a high EPS estimate of $Vroom, Inc. Comparatively, EPS for the current quarter was $Iron Mountain Incorporated (Del a year ago. Earnings per share for the fiscal year are expected to increase by 23.10%, and 12.18% over the next financial year. EPS should shrink at an annualized rate of 6.50% over the next five years, compared to 24.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Iron Mountain Incorporated (IRM) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 1 of the 9 advise that investors “hold,” and 1 rated it as a “Sell.”
