Iron Mountain (NYSE:IRM) Price Target Raised to $101.00

Iron Mountain (NYSE:IRM) had its price objective upped by The Goldman Sachs Group from $89.00 to $101.00 in a report issued on Thursday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other brokerages also recently commented on IRM. Wells Fargo & Company boosted their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the company an overweight rating in a research report on Friday, March 15th. Barclays boosted their price target on Iron Mountain from $79.00 to $91.00 and gave the stock an overweight rating in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain currently has an average rating of Moderate Buy and a consensus price target of $78.33.

Iron Mountain Trading Up 0.5 %

Shares of Iron Mountain stock opened at $89.62 on Thursday. The firm’s 50-day moving average price is $82.25 and its two-hundred day moving average price is $75.99. The company has a market capitalization of $26.27 billion, a price-to-earnings ratio of 135.79, a PEG ratio of 5.28 and a beta of 0.95. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63. Iron Mountain has a 12-month low of $55.02 and a 12-month high of $90.40.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Monday, June 17th. Iron Mountain’s payout ratio is 393.95%.

Insider Activity at Iron Mountain

In other Iron Mountain news, COO John Tomovcsik sold 35,084 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $88.76, for a total value of $3,114,055.84. Following the completion of the transaction, the chief operating officer now directly owns 20,366 shares in the company, valued at $1,807,686.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO John Tomovcsik sold 35,084 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $88.76, for a total transaction of $3,114,055.84. Following the completion of the transaction, the chief operating officer now owns 20,366 shares of the company’s stock, valued at $1,807,686.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Walter C. Rakowich sold 954 shares of Iron Mountain stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $81.33, for a total transaction of $77,588.82. Following the transaction, the director now owns 35,166 shares in the company, valued at approximately $2,860,050.78. The disclosure for this sale can be found here. Insiders have sold a total of 104,511 shares of company stock valued at $8,787,218 in the last 90 days. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Iron Mountain

A number of hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. raised its holdings in Iron Mountain by 201.7% during the 4th quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 242 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in Iron Mountain during the fourth quarter worth $26,000. CVA Family Office LLC acquired a new position in Iron Mountain in the fourth quarter valued at $32,000. Transcendent Capital Group LLC bought a new stake in Iron Mountain during the fourth quarter valued at $36,000. Finally, Heritage Wealth Advisors acquired a new stake in Iron Mountain during the 4th quarter worth about $38,000. 80.13% of the stock is currently owned by institutional investors.

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.