JPMorgan Chase & Co. Cuts Iron Mountain (NYSE:IRM) Price Target to $112.00

Iron Mountain (NYSE:IRM - Free Report) had its target price decreased by JPMorgan Chase & Co. from $125.00 to $112.00 in a research report released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider's stock.

Several other research firms also recently weighed in on IRM. BNP Paribas raised Iron Mountain to a "strong-buy" rating in a research report on Wednesday, November 6th. Barclays dropped their price target on Iron Mountain from $131.00 to $130.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. StockNews.com downgraded Iron Mountain from a "hold" rating to a "sell" rating in a research report on Tuesday, January 28th. Wells Fargo & Company decreased their price objective on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Finally, Royal Bank of Canada raised their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $127.67.

Iron Mountain Stock Down 1.9 %

NYSE IRM traded down $1.73 during mid-day trading on Tuesday, hitting $91.77. The stock had a trading volume of 2,392,295 shares, compared to its average volume of 2,128,673. Iron Mountain has a 52-week low of $70.00 and a 52-week high of $130.24. The company has a market cap of $26.96 billion, a price-to-earnings ratio of 150.44, a P/E/G ratio of 5.11 and a beta of 1.01. The company has a 50 day simple moving average of $103.50 and a 200 day simple moving average of $112.30.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). The company had revenue of $1.58 billion for 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 previous year, the business posted $0.52 EPS. As a group, equities analysts anticipate that Iron Mountain will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a $0.785 dividend. The ex-dividend date is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 3.42%. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio (DPR) is presently 514.75%.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total value of $6,900,748.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 162,391 shares of company stock worth $16,805,912. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IRM. Creative Planning lifted its stake in shares of Iron Mountain by 2.2% during the third quarter. Creative Planning now owns 98,905 shares of the financial services provider's stock worth $11,753,000 after purchasing an additional 2,083 shares in the last quarter. Vontobel Holding Ltd. acquired a new position in shares of Iron Mountain during the third quarter worth about $535,000. Blue Trust Inc. lifted its stake in shares of Iron Mountain by 142.4% during the third quarter. Blue Trust Inc. now owns 2,138 shares of the financial services provider's stock worth $254,000 after purchasing an additional 1,256 shares in the last quarter. New Century Financial Group LLC acquired a new position in shares of Iron Mountain during the third quarter worth about $252,000. Finally, Raleigh Capital Management Inc. lifted its stake in shares of Iron Mountain by 2.6% during the third quarter. Raleigh Capital Management Inc. now owns 4,303 shares of the financial services provider's stock worth $511,000 after purchasing an additional 107 shares in the last quarter. Institutional investors and hedge funds 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.