Iron Mountain (NYSE:IRM) Price Target Increased to $101.00 by Analysts at The Goldman Sachs Group

Iron Mountain (NYSE:IRM) had its target price boosted by The Goldman Sachs Group from $89.00 to $101.00 in a research report report published on Thursday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the financial services provider’s stock.

A number of other equities analysts have also recently weighed in on the stock. Barclays upped their price objective on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an overweight rating in a research report on Tuesday, March 5th. Wells Fargo & Company raised their price target on shares of Iron Mountain from $80.00 to $90.00 and gave the company an overweight rating in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Iron Mountain currently has a consensus rating of Moderate Buy and a consensus target price of $78.33.

Iron Mountain Stock Up 0.9 %

Shares of IRM opened at $89.22 on Thursday. The firm has a market cap of $26.15 billion, a P/E ratio of 135.18, a PEG ratio of 5.25 and a beta of 0.95. Iron Mountain has a 12 month low of $54.91 and a 12 month high of $89.91. The stock’s 50 day moving average is $81.96 and its two-hundred day moving average is $75.76. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Monday, June 17th. Iron Mountain’s dividend payout ratio is currently 393.94%.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $22,670,442. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $22,670,442. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Kidd sold 4,458 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $80.21, for a total transaction of $357,576.18. Following the completion of the sale, the executive vice president now directly owns 62,938 shares of the company’s stock, valued at approximately $5,048,256.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,511 shares of company stock valued at $8,787,218. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Iron Mountain

Large investors have recently modified their holdings of the business. Cohen & Steers Inc. boosted its stake in Iron Mountain by 202.1% during the fourth quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock worth $1,572,936,000 after buying an additional 15,035,937 shares during the period. Deutsche Bank AG raised its position in Iron Mountain by 0.7% in the third quarter. Deutsche Bank AG now owns 4,571,545 shares of the financial services provider’s stock valued at $271,778,000 after purchasing an additional 29,683 shares during the period. Daiwa Securities Group Inc. lifted its stake in Iron Mountain by 11.6% during the first quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock worth $365,931,000 after purchasing an additional 475,849 shares in the last quarter. Norges Bank purchased a new position in shares of Iron Mountain during the fourth quarter worth $228,391,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Iron Mountain by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,157,681 shares of the financial services provider’s stock valued at $220,975,000 after buying an additional 81,741 shares during the period. Institutional investors and hedge funds 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.