Iron Mountain (NYSE:IRM) Price Target Cut to $131.00 by Analysts at Barclays

Iron Mountain (NYSE:IRM - Free Report) had its price target trimmed by Barclays from $133.00 to $131.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider's stock.

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

Iron Mountain Price Performance

NYSE:IRM traded up $0.62 during midday trading on Monday, hitting $115.50. 1,440,318 shares of the stock were exchanged, compared to its average volume of 1,604,474. Iron Mountain has a one year low of $61.80 and a one year high of $130.24. The company has a market capitalization of $33.89 billion, a price-to-earnings ratio of 319.15, a P/E/G ratio of 6.88 and a beta of 0.99. The business has a 50-day moving average price of $119.57 and a two-hundred day moving average price of $103.24. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.48%. The ex-dividend date is Monday, December 16th. Iron Mountain's dividend payout ratio (DPR) is currently 794.47%.

Insider Transactions at Iron Mountain

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction 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 position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Edward Baker-Greene sold 2,262 shares of the company's stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the completion of the transaction, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. This trade represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,387 shares of company stock valued at $6,861,838 over the last quarter. Company insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

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