Iron Mountain (NYSE:IRM) Price Target Raised to $135.00 at Wells Fargo & Company

Iron Mountain (NYSE:IRM) had its price target lifted by Wells Fargo & Company from $120.00 to $135.00 in a report published on Thursday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

IRM has been the subject of a number of other reports. The Goldman Sachs Group boosted their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus raised their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Barclays raised their price objective on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

Iron Mountain Stock Performance

Shares of IRM opened at $124.51 on Thursday. The company has a market cap of $36.50 billion, a price-to-earnings ratio of 188.65, a P/E/G ratio of 7.22 and a beta of 1.00. The business’s fifty day simple moving average is $115.09 and its two-hundred day simple moving average is $96.38. Iron Mountain has a 12 month low of $57.36 and a 12 month high of $124.79. 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 (NYSE:IRM) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.59). The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period last year, the business earned $0.94 earnings per share. Research analysts anticipate that Iron Mountain will post 4.17 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were paid a dividend of $0.715 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.30%. Iron Mountain’s dividend payout ratio (DPR) is presently 433.33%.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,697,484. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the sale, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,697,484. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,503 shares of company stock worth $3,511,505 over the last three months. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Iron Mountain

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System grew its position in shares of Iron Mountain by 2.4% during the first 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 increased its stake in Iron Mountain by 22.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock worth $47,547,000 after acquiring an additional 110,551 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of 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 worth $6,794,000 after acquiring an additional 12,540 shares in the last quarter. Centersquare Investment Management LLC boosted its position in shares of Iron Mountain by 7,892.6% during the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after acquiring an additional 1,519,237 shares during the last quarter. Finally, Brookstone Capital Management grew its holdings in shares of Iron Mountain by 13.2% in the second quarter. Brookstone Capital Management now owns 98,425 shares of the financial services provider’s stock valued at $9,766,000 after purchasing an additional 11,454 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

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.