Barclays Has Lowered Expectations for Iron Mountain (NYSE:IRM) Stock Price

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

IRM has been the topic of a number of other reports. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group boosted their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. 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 report on Friday, August 2nd. Wells Fargo & Company boosted their target price on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, Stifel Nicolaus raised their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Five 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.com, the company presently has an average rating of “Buy” and an average price target of $129.40.

Iron Mountain Stock Up 2.4 %

NYSE:IRM opened at $119.14 on Monday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain has a 1-year low of $62.58 and a 1-year high of $130.24. The business’s fifty day moving average price is $119.82 and its 200 day moving average price is $104.00. The firm has a market capitalization of $34.96 billion, a price-to-earnings ratio of 330.94, a PEG ratio of 6.98 and a beta of 0.99.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis 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 currently 794.47%.

Insiders Place Their Bets

In related news, Director Wendy J. Murdock sold 8,500 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 14,829 shares of the company’s stock, valued at $1,725,799.02. This trade represents a 36.44 % decrease in their ownership of the stock. The sale 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 the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $35,173,480.50. The trade was a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,125 shares of company stock valued at $6,613,584. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Iron Mountain

A number of institutional investors have recently made changes to their positions in IRM. Ashton Thomas Securities LLC bought a new position in Iron Mountain during the third quarter worth about $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Iron Mountain during the second quarter valued at approximately $32,000. West Branch Capital LLC bought a new stake in Iron Mountain in the third quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Iron Mountain in the second quarter worth $36,000. Finally, Teachers Insurance & Annuity Association of America bought a new position in shares of Iron Mountain during the third quarter worth $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.