Iron Mountain (NYSE:IRM) Price Target Raised to $139.00

Iron Mountain (NYSE:IRM) had its target price hoisted by Royal Bank of Canada from $135.00 to $139.00 in a research report released on Wednesday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the stock. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Barclays cut their price target on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. The Goldman Sachs Group upped their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their target price on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. increased their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain has a consensus rating of “Buy” and an average target price of $131.00.

Iron Mountain Stock Down 0.4 %

Shares of Iron Mountain stock opened at $123.75 on Wednesday. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market cap of $36.32 billion, a price-to-earnings ratio of 343.76, a PEG ratio of 7.47 and a beta of 0.99. The firm’s 50-day moving average is $120.42 and its two-hundred day moving average is $105.53. Iron Mountain has a 1 year low of $62.95 and a 1 year high of $130.24.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.31%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio is presently 794.47%.

Insider Activity

In related news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the sale, the director now directly owns 14,829 shares in the company, valued at $1,725,799.02. This trade represents a 36.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $35,173,480.50. The trade was a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,125 shares of company stock worth $6,613,584 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Iron Mountain

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Iron Mountain by 22.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock worth $47,547,000 after purchasing an additional 110,551 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in Iron Mountain by 2.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 30,788 shares of the financial services provider’s stock worth $2,470,000 after buying an additional 681 shares during the last quarter. California State Teachers Retirement System lifted its stake in Iron Mountain by 1.5% during the 1st quarter. California State Teachers Retirement System now owns 467,973 shares of the financial services provider’s stock valued at $37,536,000 after acquiring an additional 6,770 shares during the period. Tidal Investments LLC boosted its holdings in shares of Iron Mountain by 284.1% in the 1st quarter. Tidal Investments LLC now owns 18,416 shares of the financial services provider’s stock valued at $1,477,000 after acquiring an additional 13,621 shares during the last quarter. Finally, Swedbank AB acquired a new stake in shares of Iron Mountain in the first quarter worth $19,445,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

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.