Iron Mountain (NYSE:IRM) PT Raised to $120.00 at Wells Fargo & Company

Iron Mountain (NYSE:IRM) had its price target raised by Wells Fargo & Company from $110.00 to $120.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other research analysts also recently weighed in on IRM. Stifel Nicolaus increased their price target on Iron Mountain from $86.00 to $103.00 and gave the company a buy rating in a research note on Wednesday, July 10th. The Goldman Sachs Group increased their target price on Iron Mountain from $106.00 to $120.00 and gave the company a buy rating in a research note on Friday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $95.29.

Iron Mountain Price Performance

Shares of NYSE IRM traded up $3.87 during trading on Friday, reaching $108.20. The company had a trading volume of 1,138,730 shares, compared to its average volume of 1,666,435. Iron Mountain has a 52 week low of $56.51 and a 52 week high of $112.79. The business’s 50 day moving average price is $91.93 and its 200-day moving average price is $81.46. The stock has a market cap of $31.72 billion, a PE ratio of 162.67, a PEG ratio of 6.49 and a beta of 0.98. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.79.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data 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). The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.94 earnings per share. Analysts expect that Iron Mountain will post 4.22 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be paid a $0.715 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a yield of 2.64%. The ex-dividend date is Monday, September 16th. Iron Mountain’s payout ratio is presently 433.33%.

Insider Activity

In other news, COO John Tomovcsik sold 35,084 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $88.76, for a total transaction of $3,114,055.84. Following the completion of the sale, the chief operating officer now owns 20,366 shares in the company, valued at $1,807,686.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Iron Mountain news, COO John Tomovcsik sold 35,084 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $88.76, for a total value of $3,114,055.84. Following the sale, the chief operating officer now owns 20,366 shares of the company’s stock, valued at approximately $1,807,686.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $81.03, for a total transaction of $1,286,351.25. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at $23,956,519.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,372 shares of company stock valued at $8,516,435. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Iron Mountain in the second quarter valued at approximately $32,000. Blue Trust Inc. grew its holdings in Iron Mountain by 201.7% during the 4th quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 242 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Iron Mountain in the 2nd quarter valued at about $36,000. Headlands Technologies LLC bought a new stake in shares of Iron Mountain during the 1st quarter valued at about $38,000. Finally, Family Firm Inc. acquired a new stake in Iron Mountain during the second quarter worth approximately $45,000. 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.