Iron Mountain (NYSE:IRM) Price Target Lowered to $118.00 at Barclays

Iron Mountain (NYSE:IRM) had its price target lowered by Barclays from $130.00 to $118.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Other analysts also recently issued reports about the company. 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. Wells Fargo & Company lowered their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. lowered their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Finally, StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $125.67.

Iron Mountain Trading Down 0.9 %

Iron Mountain stock opened at $87.64 on Thursday. Iron Mountain has a 12-month low of $73.53 and a 12-month high of $130.24. The firm has a 50 day moving average of $96.89 and a 200 day moving average of $109.19. The firm has a market capitalization of $25.74 billion, a price-to-earnings ratio of 143.67, a P/E/G ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same period last year, the business earned $0.52 earnings per share. On average, analysts predict that Iron Mountain will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a dividend of $0.785 per share. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.58%. Iron Mountain’s payout ratio is 514.75%.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the transaction, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at approximately $21,681,924.66. The trade was a 42.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mithu Bhargava sold 1,738 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 327,242 shares of company stock valued at $31,530,305 over the last quarter. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Iron Mountain

Institutional investors and hedge funds have recently made changes to their positions in the business. Geller Advisors LLC increased its position in shares of Iron Mountain by 2.9% during the third quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock worth $403,000 after purchasing an additional 96 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Iron Mountain by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider’s stock worth $2,644,000 after purchasing an additional 100 shares in the last quarter. Premier Path Wealth Partners LLC increased its position in shares of Iron Mountain by 3.9% during the fourth quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider’s stock worth $299,000 after purchasing an additional 106 shares in the last quarter. Belpointe Asset Management LLC increased its position in shares of Iron Mountain by 1.6% during the fourth quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider’s stock worth $821,000 after purchasing an additional 112 shares in the last quarter. Finally, Mather Group LLC. increased its position in shares of Iron Mountain by 4.6% during the fourth quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 113 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other 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.