Iron Mountain (NYSE:IRM) Price Target Increased to $110.00 by Analysts at Wells Fargo & Company

Iron Mountain (NYSE:IRM) had its price objective upped by Wells Fargo & Company from $90.00 to $110.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

A number of other equities research analysts have also weighed in on IRM. The Goldman Sachs Group boosted their target price on Iron Mountain from $89.00 to $101.00 and gave the company a buy rating in a research note on Thursday, June 27th. Stifel Nicolaus increased their price objective on Iron Mountain from $86.00 to $103.00 and gave the company a buy rating in a research note on Wednesday, July 10th. 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 stock has an average rating of Moderate Buy and a consensus price target of $86.17.

Iron Mountain Trading Down 1.2 %

Shares of IRM traded down $1.17 during mid-day trading on Tuesday, reaching $99.77. The company’s stock had a trading volume of 429,333 shares, compared to its average volume of 1,581,124. Iron Mountain has a 52 week low of $56.51 and a 52 week high of $101.38. The stock has a market cap of $29.25 billion, a PE ratio of 151.62, a P/E/G ratio of 5.93 and a beta of 0.98. The company’s fifty day moving average price is $88.24 and its two-hundred day moving average price is $79.24. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Monday, June 17th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Monday, June 17th. Iron Mountain’s payout ratio is currently 393.95%.

Insider Transactions at Iron Mountain

In related news, COO John Tomovcsik sold 2,500 shares of the stock in a transaction dated 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 directly owns 17,866 shares of the company’s stock, valued at $1,786,600. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Iron Mountain news, Director Wendy J. Murdock sold 1,500 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $75.35, for a total value of $113,025.00. Following the sale, the director now owns 24,491 shares in the company, valued at $1,845,396.85. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO John Tomovcsik sold 2,500 shares of Iron Mountain stock in a transaction that occurred on Tuesday, July 16th. The shares were 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 $1,786,600. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,553 shares of company stock valued at $8,759,378. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Cohen & Steers Inc. boosted its stake in Iron Mountain by 202.1% in the 4th 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 in the last quarter. Norges Bank purchased a new stake in shares of Iron Mountain during the fourth quarter valued at approximately $228,391,000. Daiwa Securities Group Inc. increased its position in shares of Iron Mountain by 60.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock valued at $285,960,000 after acquiring an additional 1,546,592 shares in the last quarter. Centersquare Investment Management LLC raised its holdings in 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 during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Iron Mountain by 59.1% in the 4th quarter. Russell Investments Group Ltd. now owns 2,081,786 shares of the financial services provider’s stock valued at $145,879,000 after acquiring an additional 772,988 shares in the last quarter. Hedge funds and other 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.