Iron Mountain (NYSE:IRM) PT Raised to $110.00 at Wells Fargo & Company

Iron Mountain (NYSE:IRM) had its price target lifted by Wells Fargo & Company from $90.00 to $110.00 in a research note released on Tuesday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other brokerages have also recently commented on IRM. The Goldman Sachs Group lifted their price target on shares of Iron Mountain from $89.00 to $101.00 and gave the stock a buy rating in a research report on Thursday, June 27th. Stifel Nicolaus boosted their price objective on shares of Iron Mountain from $86.00 to $103.00 and gave the company a buy rating in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Iron Mountain has a consensus rating of Moderate Buy and a consensus price target of $86.17.

Iron Mountain Stock Up 1.7 %

Shares of NYSE:IRM opened at $98.50 on Tuesday. Iron Mountain has a one year low of $56.51 and a one year high of $101.38. The company has a 50 day moving average of $89.17 and a 200-day moving average of $79.70. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $28.87 billion, a price-to-earnings ratio of 149.24, a P/E/G ratio of 5.74 and a beta of 0.98.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Monday, June 17th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 2.64%. The ex-dividend date was Monday, June 17th. Iron Mountain’s dividend payout ratio (DPR) is presently 393.95%.

Insider Activity

In other news, COO John Tomovcsik sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the transaction, the chief operating officer now owns 17,866 shares in the company, valued at $1,786,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO John Tomovcsik sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the transaction, the chief operating officer now owns 17,866 shares in the company, valued at $1,786,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Walter C. Rakowich sold 954 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $81.33, for a total transaction of $77,588.82. Following the completion of the transaction, the director now owns 35,166 shares of the company’s stock, valued at approximately $2,860,050.78. The disclosure for this sale can be found here. Insiders sold 100,553 shares of company stock worth $8,759,378 over the last quarter. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Iron Mountain

Institutional investors have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System lifted its position in shares of Iron Mountain by 2.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider’s stock worth $25,787,000 after purchasing an additional 7,486 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Iron Mountain in the fourth quarter worth $16,590,000. Goldman Sachs Group Inc. lifted its position in shares of Iron Mountain by 6.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock worth $65,787,000 after purchasing an additional 59,381 shares in the last quarter. Handelsbanken Fonder AB raised its position in Iron Mountain by 42.3% during the fourth quarter. Handelsbanken Fonder AB now owns 162,087 shares of the financial services provider’s stock worth $11,343,000 after acquiring an additional 48,170 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Iron Mountain by 6.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 462,652 shares of the financial services provider’s stock worth $30,637,000 after acquiring an additional 27,551 shares in the last quarter. 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.