Iron Mountain (NYSE:IRM) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Iron Mountain (NYSE:IRM) from a hold rating to a sell rating in a report published on Tuesday.

Several other research firms have also recently issued reports on IRM. Royal Bank of Canada increased their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Barclays decreased their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $130.83.

Iron Mountain Trading Up 1.7 %

Shares of NYSE IRM opened at $102.33 on Tuesday. Iron Mountain has a 12-month low of $66.20 and a 12-month high of $130.24. The company has a market cap of $30.03 billion, a PE ratio of 284.26, a P/E/G ratio of 6.05 and a beta of 1.02. The stock has a 50 day simple moving average of $109.64 and a 200-day simple moving average of $112.42.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were issued a $0.715 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.79%. Iron Mountain’s payout ratio is currently 794.44%.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,131 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 125,016 shares of company stock valued at $13,666,427 over the last ninety days. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Iron Mountain in the 3rd quarter valued at approximately $31,000. West Branch Capital LLC purchased a new stake in shares of Iron Mountain in the third quarter valued at $33,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Iron Mountain in the third quarter worth $36,000. Dunhill Financial LLC grew its holdings in shares of Iron Mountain by 50.5% during the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after buying an additional 152 shares in the last quarter. Finally, Oakworth Capital Inc. acquired a new position in Iron Mountain during the fourth quarter valued at $55,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

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.