Iron Mountain (NYSE:IRM) Given New $118.00 Price Target at Barclays

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

IRM has been the subject of several other research reports. Wells Fargo & Company dropped their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Royal Bank of Canada boosted their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. Finally, JPMorgan Chase & Co. lowered their price objective 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 analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $125.67.

Iron Mountain Trading Down 0.3 %

Shares of NYSE IRM opened at $88.36 on Thursday. The business has a 50-day moving average of $97.16 and a 200-day moving average of $109.40. The firm has a market capitalization of $25.95 billion, a price-to-earnings ratio of 144.84, a PEG ratio of 5.15 and a beta of 1.04. Iron Mountain has a 12 month low of $73.53 and a 12 month high of $130.24.

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

Iron Mountain Increases Dividend

The business 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. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.55%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s payout ratio is presently 514.75%.

Insider Transactions at Iron Mountain

In other news, CAO Daniel Borges sold 6,433 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $597,239.72. Following the completion of the sale, the chief accounting officer now directly owns 288 shares in the company, valued at approximately $26,737.92. This represents a 95.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 172,552 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 237,402 shares in the company, valued at $21,681,924.66. The trade was a 42.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 327,242 shares of company stock worth $31,530,305. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Iron Mountain

Institutional investors and hedge funds have recently bought and sold shares of the business. Key Financial Inc lifted its stake in Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC bought a new position in Iron Mountain in the 4th quarter worth $26,000. IMG Wealth Management Inc. bought a new stake in shares of Iron Mountain during the 4th quarter valued at about $26,000. Teachers Insurance & Annuity Association of America bought 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 fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock valued at $51,000 after buying an additional 155 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

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.