Barclays Lowers Iron Mountain (NYSE:IRM) Price Target to $118.00

Iron Mountain (NYSE:IRM - Free Report) had its target price lowered by Barclays from $130.00 to $118.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider's stock.

A number of other equities analysts also recently weighed in on IRM. Royal Bank of Canada raised their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. reduced their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research report on Tuesday, February 18th. StockNews.com downgraded Iron Mountain from a "hold" rating to a "sell" rating in a report on Friday, March 14th. Finally, Wells Fargo & Company reduced their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $125.67.

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Iron Mountain Price Performance

IRM stock traded up $2.60 during midday trading on Thursday, hitting $90.14. The stock had a trading volume of 1,037,527 shares, compared to its average volume of 1,683,843. The business has a 50-day moving average of $96.65 and a two-hundred day moving average of $109.03. The firm has a market cap of $26.48 billion, a price-to-earnings ratio of 147.77, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain has a 52-week low of $73.53 and a 52-week high of $130.24.

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

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a $0.785 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.48%. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's payout ratio is currently 514.75%.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 69,131 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 172,552 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the sale, the chief executive officer now directly owns 237,402 shares in the company, valued at approximately $21,681,924.66. The trade was a 42.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 318,979 shares of company stock valued at $30,666,904 over the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Iron Mountain

A number of large investors have recently added to or reduced their stakes in IRM. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Iron Mountain by 23.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 51,874 shares of the financial services provider's stock worth $5,453,000 after buying an additional 9,937 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new position in Iron Mountain in the fourth quarter valued at about $10,217,000. Comprehensive Money Management Services LLC purchased a new position in Iron Mountain in the fourth quarter worth about $1,499,000. Park Square Financial Group LLC bought a new stake in shares of Iron Mountain during the 4th quarter valued at about $314,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Iron Mountain during the 4th quarter valued at about $39,687,000. 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.