Iron Mountain (NYSE:IRM) Raised to Strong-Buy at BNP Paribas

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

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

Iron Mountain Trading Up 2.4 %

Shares of Iron Mountain stock traded up $2.79 during trading hours on Wednesday, hitting $119.71. The company’s stock had a trading volume of 1,260,903 shares, compared to its average volume of 1,493,211. The stock has a market cap of $35.12 billion, a price-to-earnings ratio of 332.54, a P/E/G ratio of 6.86 and a beta of 0.99. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.75. Iron Mountain has a twelve month low of $58.55 and a twelve month high of $130.24. The firm has a fifty day moving average of $119.20 and a 200-day moving average of $101.58.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio is presently 794.47%.

Insider Activity at Iron Mountain

In related news, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction of $248,254.50. Following the completion of the transaction, the executive vice president now owns 9,049 shares in the company, valued at approximately $993,127.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Edward Baker-Greene sold 2,262 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the completion of the transaction, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,637 shares of company stock valued at $3,210,575 over the last 90 days. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Iron Mountain

Several hedge funds and other institutional investors have recently bought and sold shares of IRM. Legal & General Group Plc boosted its holdings in shares of Iron Mountain by 49.2% in the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after acquiring an additional 1,286,694 shares during the period. AGF Management Ltd. boosted its stake in Iron Mountain by 76.3% during the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after purchasing an additional 972,101 shares during the period. Bank of New York Mellon Corp grew its position in Iron Mountain by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock worth $190,553,000 after purchasing an additional 6,562 shares during the last quarter. Centersquare Investment Management LLC increased its stake in Iron Mountain by 7,892.6% in the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after purchasing an additional 1,519,237 shares during the period. Finally, Duff & Phelps Investment Management Co. raised its holdings in shares of Iron Mountain by 45.0% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock valued at $116,356,000 after buying an additional 402,625 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

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.