The Goldman Sachs Group Raises Iron Mountain (NYSE:IRM) Price Target to $101.00

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

Several other analysts have also issued reports on IRM. Wells Fargo & Company upped their price target 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 raised their price target on Iron Mountain from $79.00 to $91.00 and gave the stock an overweight rating in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $78.33.

Iron Mountain Trading Up 0.5 %

Shares of IRM opened at $89.62 on Thursday. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.86. Iron Mountain has a fifty-two week low of $55.02 and a fifty-two week high of $90.40. The firm has a 50 day moving average price of $82.25 and a 200-day moving average price of $75.99. The firm has a market cap of $26.27 billion, a price-to-earnings ratio of 135.79, a PEG ratio of 5.28 and a beta of 0.95.

Iron Mountain Announces Dividend

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

Insider Activity at Iron Mountain

In other news, EVP Mark Kidd sold 4,458 shares of Iron Mountain stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $80.21, for a total value of $357,576.18. Following the sale, the executive vice president now directly owns 62,938 shares in the company, valued at approximately $5,048,256.98. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Edward Baker-Greene sold 6,200 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $88.35, for a total value of $547,770.00. Following the completion of the transaction, the executive vice president now directly owns 11,311 shares of the company’s stock, valued at $999,326.85. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark Kidd sold 4,458 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $80.21, for a total transaction of $357,576.18. Following the completion of the sale, the executive vice president now owns 62,938 shares of the company’s stock, valued at $5,048,256.98. The disclosure for this sale can be found here. Insiders have sold a total of 104,511 shares of company stock worth $8,787,218 in the last 90 days. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Cohen & Steers Inc. grew its stake in Iron Mountain by 202.1% in the fourth quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock worth $1,572,936,000 after purchasing an additional 15,035,937 shares during the period. Deutsche Bank AG lifted its position in Iron Mountain by 0.7% during the 3rd quarter. Deutsche Bank AG now owns 4,571,545 shares of the financial services provider’s stock valued at $271,778,000 after acquiring an additional 29,683 shares during the period. Daiwa Securities Group Inc. boosted its stake in Iron Mountain by 11.6% during the first quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock worth $365,931,000 after acquiring an additional 475,849 shares in the last quarter. Norges Bank purchased a new stake in Iron Mountain in the fourth quarter worth about $228,391,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Iron Mountain by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,157,681 shares of the financial services provider’s stock valued at $220,975,000 after purchasing an additional 81,741 shares in the last quarter. Institutional investors 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.