Stifel Nicolaus Increases Iron Mountain (NYSE:IRM) Price Target to $140.00

Iron Mountain (NYSE:IRM) had its target price hoisted by Stifel Nicolaus from $117.00 to $140.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group lifted their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a buy rating in a report on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an overweight rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company lifted their target price on shares of Iron Mountain from $110.00 to $120.00 and gave the stock an overweight rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $106.00.

Iron Mountain Stock Down 1.7 %

Shares of NYSE IRM opened at $117.31 on Monday. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79. Iron Mountain has a 1 year low of $56.51 and a 1 year high of $120.54. The stock has a market capitalization of $34.41 billion, a P/E ratio of 177.75, a P/E/G ratio of 7.09 and a beta of 1.00. The company has a 50-day moving average price of $109.86 and a 200-day moving average price of $92.21.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the firm posted $0.94 earnings per share. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, equities research analysts forecast that Iron Mountain will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.44%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, September 16th. Iron Mountain’s payout ratio is presently 433.34%.

Insider Transactions at Iron Mountain

In other Iron Mountain news, EVP Edward Baker-Greene sold 2,262 shares of the 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 of the company’s stock, valued at $993,127.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Iron Mountain news, EVP Edward Baker-Greene sold 2,262 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction of $248,254.50. Following the sale, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at $993,127.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO John Tomovcsik sold 2,500 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $100.00, for a total transaction of $250,000.00. Following the transaction, the chief operating officer now owns 17,866 shares of the company’s stock, valued at approximately $1,786,600. The disclosure for this sale can be found here. Insiders sold a total of 33,003 shares of company stock worth $3,352,406 in the last quarter. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Iron Mountain

Several institutional investors have recently made changes to their positions in the stock. Commerce Bank lifted its holdings in Iron Mountain by 2.1% during the 4th quarter. Commerce Bank now owns 22,247 shares of the financial services provider’s stock worth $1,557,000 after purchasing an additional 450 shares in the last quarter. Congress Wealth Management LLC DE purchased a new stake in shares of Iron Mountain in the fourth quarter worth about $509,000. Hsbc Holdings PLC boosted its position in shares of Iron Mountain by 16.4% in the fourth quarter. Hsbc Holdings PLC now owns 419,721 shares of the financial services provider’s stock valued at $29,402,000 after acquiring an additional 59,135 shares during the period. Heritage Wealth Advisors bought a new stake in Iron Mountain during the 4th quarter worth approximately $38,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in Iron Mountain in the 4th quarter worth approximately $124,000. Hedge funds and other 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.