Iron Mountain (NYSE:IRM) Given New $112.00 Price Target at JPMorgan Chase & Co.

Iron Mountain (NYSE:IRM) had its price target decreased by JPMorgan Chase & Co. from $125.00 to $112.00 in a research report sent to investors on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

Several other equities research analysts also recently weighed in on the company. Wells Fargo & Company decreased their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Barclays reduced their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Royal Bank of Canada upped 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. Finally, StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Iron Mountain has a consensus rating of “Moderate Buy” and an average price target of $127.67.

Iron Mountain Stock Performance

Shares of IRM opened at $94.04 on Tuesday. The stock has a market capitalization of $27.60 billion, a PE ratio of 261.22, a P/E/G ratio of 5.84 and a beta of 1.01. The company’s 50-day simple moving average is $104.71 and its 200-day simple moving average is $112.66. Iron Mountain has a 1 year low of $67.09 and a 1 year high of $130.24.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.70). The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a negative return on equity of 44,660.04% and a net margin of 1.77%. During the same quarter last year, the firm earned $0.52 EPS. On average, sell-side analysts predict that Iron Mountain will post 4.18 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Monday, March 17th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is 794.47%.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 162,391 shares of company stock worth $16,805,912. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Neo Ivy Capital Management acquired a new stake in shares of Iron Mountain in the fourth quarter valued at $81,000. RB Capital Management LLC lifted its holdings in Iron Mountain by 0.3% in the 4th quarter. RB Capital Management LLC now owns 46,340 shares of the financial services provider’s stock valued at $4,871,000 after acquiring an additional 156 shares during the last quarter. Pinkerton Retirement Specialists LLC boosted its position in shares of Iron Mountain by 215.9% during the 4th quarter. Pinkerton Retirement Specialists LLC now owns 7,165 shares of the financial services provider’s stock valued at $753,000 after purchasing an additional 4,897 shares in the last quarter. Voloridge Investment Management LLC grew its stake in shares of Iron Mountain by 111.7% in the 4th quarter. Voloridge Investment Management LLC now owns 91,573 shares of the financial services provider’s stock worth $9,625,000 after purchasing an additional 48,308 shares during the last quarter. Finally, Woodline Partners LP bought a new stake in shares of Iron Mountain in the 4th quarter worth approximately $1,845,000. 80.13% of the stock is 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.