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

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

Several other brokerages also recently commented on IRM. Wells Fargo & Company cut their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Friday, March 14th. Royal Bank of Canada raised their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. cut their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $125.67.

Iron Mountain Stock Down 0.9 %

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

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

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be given a $0.785 dividend. This is a boost 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 presently 514.75%.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $99.83, for a total value of $6,900,748.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 327,242 shares of company stock worth $31,530,305. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Iron Mountain

Large investors have recently modified their holdings of the stock. Key Financial Inc raised its position in Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after buying an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Iron Mountain during the 4th quarter valued at about $26,000. IMG Wealth Management Inc. purchased a new stake in shares of Iron Mountain during the 4th quarter valued at about $26,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Iron Mountain during the 3rd quarter valued at about $36,000. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of Iron Mountain by 46.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

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.