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

Iron Mountain (NYSE:IRM) had its target price cut by Barclays from $133.00 to $131.00 in a research report report published on Monday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other research analysts have also recently issued reports on IRM. JPMorgan Chase & Co. increased their price objective on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Stifel Nicolaus lifted their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, The Goldman Sachs Group upped their target price on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $129.40.

Iron Mountain Trading Down 0.2 %

Shares of IRM opened at $116.30 on Monday. Iron Mountain has a twelve month low of $62.56 and a twelve month high of $130.24. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The company’s fifty day simple moving average is $119.76 and its 200-day simple moving average is $103.89. The company has a market cap of $34.13 billion, a P/E ratio of 323.06, a P/E/G ratio of 6.88 and a beta of 0.99.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.46%. Iron Mountain’s payout ratio is currently 794.44%.

Insider Buying and Selling

In related news, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now directly owns 14,829 shares in the company, valued at $1,725,799.02. The trade was a 36.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, November 11th. The shares were sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $35,173,480.50. The trade was a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,125 shares of company stock worth $6,613,584 in the last 90 days. Insiders own 2.10% of the company’s stock.

Institutional Trading of Iron Mountain

Several institutional investors have recently bought and sold shares of IRM. Ashton Thomas Securities LLC purchased a new stake in shares of Iron Mountain during the third quarter worth approximately $31,000. West Branch Capital LLC acquired a new position in Iron Mountain during the third quarter worth about $33,000. Teachers Insurance & Annuity Association of America purchased a new stake in Iron Mountain during the 3rd quarter valued at about $36,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Iron Mountain in the 2nd quarter valued at about $32,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Iron Mountain during the 2nd quarter worth approximately $36,000. 80.13% of the stock is owned by institutional investors and hedge funds.

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.