Iron Mountain (NYSE:IRM) Given New $131.00 Price Target at Barclays

Iron Mountain (NYSE:IRM) had its price target lowered by Barclays from $133.00 to $131.00 in a research note released on Monday,Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

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

Iron Mountain Stock Up 2.4 %

Shares of NYSE IRM opened at $119.14 on Monday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. The stock has a market capitalization of $34.96 billion, a PE ratio of 330.94, a P/E/G ratio of 6.98 and a beta of 0.99. The firm has a fifty day moving average of $119.82 and a 200-day moving average of $104.00. Iron Mountain has a 52-week low of $62.58 and a 52-week high of $130.24.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. The trade was a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the transaction, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. The trade was a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,125 shares of company stock worth $6,613,584 over the last quarter. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Iron Mountain

Hedge funds have recently modified their holdings of the company. Friedenthal Financial bought a new stake in Iron Mountain during the third quarter worth approximately $824,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Iron Mountain by 22.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock worth $47,547,000 after acquiring an additional 110,551 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of Iron Mountain by 19.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock worth $6,794,000 after purchasing an additional 12,540 shares during the period. Brookstone Capital Management lifted its holdings in shares of Iron Mountain by 13.2% during the second quarter. Brookstone Capital Management now owns 98,425 shares of the financial services provider’s stock valued at $9,766,000 after purchasing an additional 11,454 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Iron Mountain by 36.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,192 shares of the financial services provider’s stock valued at $2,281,000 after purchasing an additional 5,086 shares during the period. 80.13% of the stock is currently 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.