The Goldman Sachs Group Increases Iron Mountain (NYSE:IRM) Price Target to $101.00

Iron Mountain (NYSE:IRM) had its target price raised by The Goldman Sachs Group from $89.00 to $101.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

A number of other analysts have also issued reports on the stock. Barclays raised their target price on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an overweight rating in a research report on Tuesday, March 5th. Wells Fargo & Company increased their target price on Iron Mountain from $80.00 to $90.00 and gave the stock an overweight rating in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $78.33.

Iron Mountain Stock Up 0.9 %

Shares of NYSE:IRM opened at $89.22 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63. The company has a market capitalization of $26.15 billion, a P/E ratio of 135.18, a P/E/G ratio of 5.25 and a beta of 0.95. Iron Mountain has a 52-week low of $54.91 and a 52-week high of $89.91. The stock’s fifty day simple moving average is $81.96 and its 200-day simple moving average is $75.76.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.60 annualized dividend and a dividend yield of 2.91%. Iron Mountain’s payout ratio is currently 393.94%.

Insider Buying and Selling at Iron Mountain

In other news, Director Walter C. Rakowich sold 954 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $81.33, for a total value of $77,588.82. Following the completion of the transaction, the director now directly owns 35,166 shares in the company, valued at $2,860,050.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Walter C. Rakowich sold 954 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $81.33, for a total value of $77,588.82. Following the transaction, the director now owns 35,166 shares in the company, valued at $2,860,050.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mark Kidd sold 4,458 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $80.21, for a total value of $357,576.18. Following the sale, the executive vice president now owns 62,938 shares of the company’s stock, valued at approximately $5,048,256.98. The disclosure for this sale can be found here. Insiders sold 104,511 shares of company stock valued at $8,787,218 over the last 90 days. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new position in shares of Iron Mountain during the fourth quarter worth about $16,590,000. Goldman Sachs Group Inc. increased its holdings in shares of Iron Mountain by 6.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock valued at $65,787,000 after acquiring an additional 59,381 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of Iron Mountain by 42.3% during the 4th quarter. Handelsbanken Fonder AB now owns 162,087 shares of the financial services provider’s stock valued at $11,343,000 after acquiring an additional 48,170 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Iron Mountain by 6.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 462,652 shares of the financial services provider’s stock worth $30,637,000 after purchasing an additional 27,551 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Iron Mountain by 60.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock valued at $285,960,000 after purchasing an additional 1,546,592 shares during the last quarter. 80.13% of the stock is currently owned by 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.