Iron Mountain (NYSE:IRM) PT Raised to $110.00 at Wells Fargo & Company

Iron Mountain (NYSE:IRM) had its price target upped by Wells Fargo & Company from $90.00 to $110.00 in a report released on Tuesday, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other equities research analysts also recently weighed in on the stock. The Goldman Sachs Group increased their target price on shares of Iron Mountain from $89.00 to $101.00 and gave the stock a buy rating in a research note on Thursday, June 27th. Stifel Nicolaus increased their target price on shares of Iron Mountain from $86.00 to $103.00 and gave the stock a buy rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Iron Mountain has an average rating of Moderate Buy and a consensus target price of $86.17.

Iron Mountain Stock Performance

NYSE IRM opened at $98.50 on Tuesday. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86. Iron Mountain has a 1 year low of $56.51 and a 1 year high of $101.38. The company has a market capitalization of $28.87 billion, a PE ratio of 149.24, a P/E/G ratio of 5.74 and a beta of 0.98. The company has a fifty day moving average of $89.17 and a two-hundred day moving average of $79.70.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Monday, June 17th were given a $0.65 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $2.60 dividend on an annualized basis and a yield of 2.64%. Iron Mountain’s payout ratio is currently 393.95%.

Insider Activity at Iron Mountain

In related news, Director Walter C. Rakowich sold 954 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $81.33, for a total value of $77,588.82. Following the completion of the sale, the director now owns 35,166 shares in the company, valued at $2,860,050.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Iron Mountain news, COO John Tomovcsik sold 2,500 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the transaction, the chief operating officer now directly owns 17,866 shares of the company’s stock, valued at $1,786,600. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Walter C. Rakowich sold 954 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $81.33, for a total transaction of $77,588.82. Following the completion of the transaction, the director now directly owns 35,166 shares of the company’s stock, valued at $2,860,050.78. The disclosure for this sale can be found here. Insiders sold a total of 100,553 shares of company stock worth $8,759,378 over the last 90 days. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Beacon Financial Advisory LLC increased its holdings in Iron Mountain by 1.8% in the second quarter. Beacon Financial Advisory LLC now owns 14,882 shares of the financial services provider’s stock valued at $1,334,000 after buying an additional 261 shares in the last quarter. Atomi Financial Group Inc. increased its stake in shares of Iron Mountain by 39.1% during the 2nd quarter. Atomi Financial Group Inc. now owns 3,880 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 1,090 shares in the last quarter. Aspen Investment Management Inc increased its stake in shares of Iron Mountain by 4.8% during the 2nd quarter. Aspen Investment Management Inc now owns 3,260 shares of the financial services provider’s stock worth $292,000 after purchasing an additional 150 shares in the last quarter. AlphaStar Capital Management LLC increased its stake in shares of Iron Mountain by 21.8% during the 2nd quarter. AlphaStar Capital Management LLC now owns 4,472 shares of the financial services provider’s stock worth $401,000 after purchasing an additional 800 shares in the last quarter. Finally, Railway Pension Investments Ltd increased its stake in shares of Iron Mountain by 188.3% during the 2nd quarter. Railway Pension Investments Ltd now owns 147,900 shares of the financial services provider’s stock worth $13,255,000 after purchasing an additional 96,600 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other 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.