Iron Mountain (NYSE:IRM) Price Target Lowered to $130.00 at Barclays

Iron Mountain (NYSE:IRM) had its target price cut by Barclays from $131.00 to $130.00 in a report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other research analysts have also weighed in on IRM. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada boosted their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Finally, Wells Fargo & Company boosted their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $130.83.

Iron Mountain Stock Down 5.2 %

NYSE:IRM opened at $98.53 on Tuesday. The firm has a market capitalization of $28.92 billion, a price-to-earnings ratio of 273.71, a price-to-earnings-growth ratio of 6.05 and a beta of 1.02. Iron Mountain has a twelve month low of $66.20 and a twelve month high of $130.24. The stock’s 50 day moving average price is $110.29 and its two-hundred day moving average price is $112.58.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were paid a $0.715 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.90%. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,874,874. This represents a 5.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 15,872 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. Insiders sold 125,016 shares of company stock worth $13,666,427 in the last ninety days. 2.10% of the stock is owned by company insiders.

Institutional Trading of Iron Mountain

A number of institutional investors have recently modified their holdings of IRM. OneDigital Investment Advisors LLC increased its holdings in Iron Mountain by 1.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock worth $711,000 after purchasing an additional 89 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Iron Mountain by 0.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock worth $1,351,000 after purchasing an additional 92 shares in the last quarter. Geller Advisors LLC increased its stake in shares of Iron Mountain by 2.9% in the third quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock valued at $403,000 after buying an additional 96 shares during the period. Schmidt P J Investment Management Inc. raised its position in shares of Iron Mountain by 3.6% during the third quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock worth $340,000 after acquiring an additional 100 shares during the last quarter. Finally, Claro Advisors LLC lifted its stake in shares of Iron Mountain by 0.6% in the third 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 during the period. 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.