Iron Mountain (NYSE:IRM) Upgraded at BNP Paribas

BNP Paribas upgraded shares of Iron Mountain (NYSE:IRM) to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

A number of other research firms have also issued reports on IRM. JPMorgan Chase & Co. upped their price target on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group upped their price target on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Stifel Nicolaus upped their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Wells Fargo & Company upped their price target on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Barclays upped their price target on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $129.80.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $119.71 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain has a twelve month low of $58.55 and a twelve month high of $130.24. The business has a 50-day moving average price of $119.20 and a 200 day moving average price of $101.76. The firm has a market cap of $35.12 billion, a PE ratio of 332.54, a P/E/G ratio of 6.86 and a beta of 0.99.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,697,484. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the transaction, the executive vice president now directly owns 9,049 shares in the company, valued at approximately $993,127.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,637 shares of company stock valued at $3,210,575. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Iron Mountain

A number of hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Iron Mountain during the 3rd quarter valued at approximately $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Iron Mountain during the 2nd quarter valued at approximately $32,000. West Branch Capital LLC acquired a new stake in shares of Iron Mountain during the 3rd quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Iron Mountain during the 2nd quarter valued at approximately $36,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Iron Mountain during the 1st quarter valued at approximately $38,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

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.