Iron Mountain (NYSE:IRM) Given New $139.00 Price Target at Royal Bank of Canada

Iron Mountain (NYSE:IRM) had its price target lifted by Royal Bank of Canada from $135.00 to $139.00 in a report published on Wednesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on the stock. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. raised their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group upped their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Barclays decreased their target price on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. Finally, 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 report on Thursday, October 17th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $131.00.

Iron Mountain Price Performance

NYSE IRM opened at $124.24 on Wednesday. The stock has a market capitalization of $36.46 billion, a PE ratio of 345.12, a P/E/G ratio of 7.26 and a beta of 0.99. The stock has a 50-day simple moving average of $120.06 and a 200 day simple moving average of $105.26. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. Iron Mountain has a twelve month low of $62.95 and a twelve month high of $130.24.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Monday, December 16th. Iron Mountain’s dividend payout ratio is 794.47%.

Insider Buying and Selling at Iron Mountain

In other news, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the sale, the director now owns 14,829 shares in the company, valued at approximately $1,725,799.02. The trade was a 36.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, October 7th. The shares were 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 directly owns 295,650 shares of the company’s stock, valued at $34,697,484. This represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,125 shares of company stock valued at $6,613,584. 2.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Iron Mountain

Large investors have recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new stake in shares of Iron Mountain during the third quarter worth $31,000. West Branch Capital LLC bought a new position in shares of Iron Mountain in the third quarter worth about $33,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Iron Mountain during the third quarter valued at approximately $36,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Iron Mountain in the second quarter valued at approximately $32,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Iron Mountain in the 2nd quarter worth approximately $36,000. 80.13% of the stock is currently owned by institutional investors.

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.