Iron Mountain (NYSE:IRM) Shares Down 4% Following Analyst Downgrade

Shares of Iron Mountain Incorporated (NYSE:IRMGet Free Report) were down 4% during mid-day trading on Tuesday after StockNews.com downgraded the stock from a hold rating to a sell rating. The company traded as low as $101.27 and last traded at $99.80. Approximately 116,689 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 1,764,132 shares. The stock had previously closed at $103.99.

Several other analysts have also recently weighed in on the stock. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada raised their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Barclays decreased their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Wells Fargo & Company lifted their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain has an average rating of “Moderate Buy” and an average target price of $130.83.

Read Our Latest Report on IRM

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated 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 $34,874,874. This represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 125,016 shares of company stock valued at $13,666,427 over the last quarter. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Iron Mountain

A number of hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its position in Iron Mountain by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 55,571 shares of the financial services provider’s stock valued at $5,841,000 after purchasing an additional 5,150 shares during the period. Kentucky Trust Co acquired a new position in shares of Iron Mountain during the fourth quarter valued at $2,259,000. Axecap Investments LLC grew its position in shares of Iron Mountain by 6.0% during the fourth quarter. Axecap Investments LLC now owns 9,149 shares of the financial services provider’s stock worth $962,000 after acquiring an additional 515 shares during the last quarter. Summit Trail Advisors LLC lifted its position in Iron Mountain by 19.4% in the 4th quarter. Summit Trail Advisors LLC now owns 5,704 shares of the financial services provider’s stock valued at $604,000 after purchasing an additional 927 shares during the last quarter. Finally, Savant Capital LLC lifted its position in Iron Mountain by 3.5% in the 4th quarter. Savant Capital LLC now owns 11,730 shares of the financial services provider’s stock valued at $1,233,000 after purchasing an additional 394 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Performance

The business’s 50 day simple moving average is $109.98 and its 200-day simple moving average is $112.50. The stock has a market capitalization of $29.51 billion, a price-to-earnings ratio of 279.34, a price-to-earnings-growth ratio of 6.05 and a beta of 1.02.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Monday, December 16th. Iron Mountain’s payout ratio is 794.47%.

About Iron Mountain

(Get Free Report)

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.

Further Reading

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