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

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

IRM has been the subject of a number of other reports. JPMorgan Chase & Co. upped their price objective on Iron Mountain from $82.00 to $121.00 and gave the stock an overweight rating in a report on Friday, August 2nd. Wells Fargo & Company upped their target price on Iron Mountain from $110.00 to $120.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group increased their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the company a buy rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Iron Mountain has a consensus rating of Moderate Buy and a consensus price target of $106.00.

Iron Mountain Stock Down 1.7 %

IRM stock opened at $117.31 on Monday. The company’s 50 day moving average is $109.86 and its 200 day moving average is $92.21. The stock has a market cap of $34.41 billion, a price-to-earnings ratio of 177.75, a price-to-earnings-growth ratio of 7.09 and a beta of 1.00. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain has a 1-year low of $56.51 and a 1-year high of $120.54.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the company earned $0.94 EPS. Iron Mountain’s quarterly revenue was up 13.0% on a year-over-year basis. Sell-side analysts predict that Iron Mountain will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

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

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the transaction, the executive vice president now owns 9,049 shares in the company, valued at $993,127.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $91.59, for a total value of $1,453,991.25. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $27,078,583.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the transaction, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. The disclosure for this sale can be found here. Insiders sold 33,003 shares of company stock valued at $3,352,406 in the last quarter. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Iron Mountain

Large investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System boosted its stake in shares of Iron Mountain by 2.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider’s stock valued at $25,787,000 after purchasing an additional 7,486 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Iron Mountain by 22.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock worth $47,547,000 after buying an additional 110,551 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in Iron Mountain by 19.8% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock valued at $6,794,000 after acquiring an additional 12,540 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Iron Mountain by 6.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock worth $65,787,000 after acquiring an additional 59,381 shares during the period. Finally, Centersquare Investment Management LLC raised its position in shares of Iron Mountain by 7,892.6% in the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after acquiring an additional 1,519,237 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.