Iron Mountain (NYSE:IRM) Price Target Lowered to $131.00 at Barclays

Iron Mountain (NYSE:IRM) had its target price trimmed by Barclays from $133.00 to $131.00 in a report released on Monday,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company boosted their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Stifel Nicolaus upped their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. The Goldman Sachs Group lifted their price objective on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised 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. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $129.40.

Iron Mountain Stock Performance

Shares of Iron Mountain stock opened at $116.30 on Monday. The business’s fifty day simple moving average is $119.76 and its 200-day simple moving average is $103.89. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. The firm has a market cap of $34.13 billion, a PE ratio of 323.06, a price-to-earnings-growth ratio of 6.88 and a beta of 0.99. Iron Mountain has a 52 week low of $62.56 and a 52 week high of $130.24.

Iron Mountain Dividend Announcement

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 paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio is presently 794.44%.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,874,874. This trade represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the sale, the director now owns 14,829 shares of the company’s stock, valued at $1,725,799.02. This trade represents a 36.44 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 owned by insiders.

Hedge Funds Weigh In On Iron Mountain

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Iron Mountain by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider’s stock worth $978,479,000 after acquiring an additional 128,622 shares during the period. Legal & General Group Plc increased its position in Iron Mountain by 49.2% during the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after purchasing an additional 1,286,694 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Iron Mountain by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider’s stock worth $402,396,000 after buying an additional 141,675 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Iron Mountain by 537.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock valued at $376,756,000 after buying an additional 2,672,821 shares in the last quarter. Finally, AGF Management Ltd. grew its holdings in Iron Mountain by 76.3% during the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after acquiring an additional 972,101 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

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.