Iron Mountain (NYSE:IRM) Lowered to Sell Rating by StockNews.com

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

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

Iron Mountain Price Performance

IRM stock opened at $98.53 on Tuesday. The firm has a market cap of $28.92 billion, a PE ratio of 273.71, a P/E/G ratio of 6.05 and a beta of 1.02. Iron Mountain has a 12 month low of $66.20 and a 12 month high of $130.24. The firm has a 50 day simple moving average of $110.29 and a 200 day simple moving average of $112.58.

Iron Mountain Dividend Announcement

The company also recently disclosed 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 was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.90%. Iron Mountain’s dividend payout ratio is currently 794.47%.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total value of $7,248,385.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 125,016 shares of company stock worth $13,666,427 over the last ninety days. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Iron Mountain

Several institutional investors and hedge funds have recently added to or reduced their stakes in IRM. Ashton Thomas Securities LLC bought a new position in shares of Iron Mountain in the third quarter valued at approximately $31,000. West Branch Capital LLC acquired a new position in Iron Mountain in the 3rd quarter valued at $33,000. Teachers Insurance & Annuity Association of America bought a new position in Iron Mountain in the 3rd quarter worth $36,000. Dunhill Financial LLC lifted its position in Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 152 shares during the last quarter. Finally, Oakworth Capital Inc. bought a new stake in Iron Mountain during the fourth quarter valued at about $55,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

About Iron Mountain

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.