Iron Mountain (NYSE:IRM) Upgraded at BNP Paribas

BNP Paribas upgraded shares of Iron Mountain (NYSE:IRM) to a strong-buy rating in a research note published on Wednesday morning,Zacks.com reports.

IRM has been the subject of a number of other research reports. JPMorgan Chase & Co. lifted their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Stifel Nicolaus lifted their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Wells Fargo & Company increased their price objective on shares of 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 boosted their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Barclays upped their price target on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $129.80.

Iron Mountain Trading Up 2.4 %

NYSE IRM traded up $2.79 during mid-day trading on Wednesday, reaching $119.71. 1,260,903 shares of the stock were exchanged, compared to its average volume of 1,493,211. The stock has a market capitalization of $35.12 billion, a PE ratio of 332.54, a PEG ratio of 6.86 and a beta of 0.99. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.75. Iron Mountain has a 1-year low of $58.55 and a 1-year high of $130.24. The business’s fifty day simple moving average is $119.20 and its 200 day simple moving average is $101.58.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

Insider Buying and Selling at Iron Mountain

In related news, COO John Tomovcsik sold 1,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were 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 directly owns 14,000 shares of the company’s stock, valued at approximately $1,540,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction of $248,254.50. Following the sale, the executive vice president now owns 9,049 shares in the company, valued at $993,127.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John Tomovcsik sold 1,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the transaction, the chief operating officer now owns 14,000 shares of the company’s stock, valued at $1,540,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,637 shares of company stock valued at $3,210,575 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

A number of institutional investors have recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC boosted its stake in shares of Iron Mountain by 1.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock valued at $711,000 after buying an additional 89 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Iron Mountain by 0.8% in the third quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock valued at $1,351,000 after acquiring an additional 92 shares in the last quarter. Schmidt P J Investment Management Inc. boosted its stake in Iron Mountain by 3.6% during the 3rd quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 100 shares during the last quarter. Claro Advisors LLC grew its holdings in Iron Mountain by 0.6% during the 3rd quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock worth $1,986,000 after acquiring an additional 103 shares in the last quarter. Finally, Raleigh Capital Management Inc. increased its position in shares of Iron Mountain by 2.6% in the 3rd quarter. Raleigh Capital Management Inc. now owns 4,303 shares of the financial services provider’s stock worth $511,000 after purchasing an additional 107 shares during the last quarter. 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.