Iron Mountain (NYSE:IRM) Coverage Initiated by Analysts at UBS Group

UBS Group began coverage on shares of Iron Mountain (NYSE:IRM) in a research report released on Tuesday morning, Marketbeat.com reports. The firm issued a sell rating and a $44.00 price objective on the financial services provider’s stock.

Other research analysts have also issued reports about the company. StockNews.com started coverage on Iron Mountain in a research report on Thursday, October 5th. They set a hold rating on the stock. Barclays boosted their target price on Iron Mountain from $64.00 to $69.00 and gave the company an overweight rating in a research note on Monday, August 7th. Finally, Royal Bank of Canada upgraded Iron Mountain from a sector perform rating to an outperform rating and boosted their target price for the company from $58.00 to $68.00 in a research note on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $61.40.

Iron Mountain Stock Up 1.0 %

Shares of Iron Mountain stock opened at $59.44 on Tuesday. The stock’s fifty day moving average is $60.55 and its 200-day moving average is $58.74. The firm has a market capitalization of $17.36 billion, a PE ratio of 62.57, a price-to-earnings-growth ratio of 3.76 and a beta of 0.90. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 43.97. Iron Mountain has a 12-month low of $48.92 and a 12-month high of $64.48.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Friday, December 15th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.60 annualized dividend and a yield of 4.37%. Iron Mountain’s dividend payout ratio (DPR) is 273.69%.

Insider Buying and Selling at Iron Mountain

In other news, EVP Deborah Marson sold 2,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $60.31, for a total value of $120,620.00. Following the completion of the transaction, the executive vice president now directly owns 54,026 shares of the company’s stock, valued at approximately $3,258,308.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO William L. Meaney sold 10,507 shares of the stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $57.68, for a total transaction of $606,043.76. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $17,053,092. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah Marson sold 2,000 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $60.31, for a total value of $120,620.00. Following the completion of the transaction, the executive vice president now owns 54,026 shares in the company, valued at $3,258,308.06. The disclosure for this sale can be found here. Insiders sold a total of 77,380 shares of company stock valued at $4,731,370 in the last quarter. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. TrinityPoint Wealth LLC boosted its position in shares of Iron Mountain by 4.0% in the 2nd quarter. TrinityPoint Wealth LLC now owns 4,354 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 168 shares during the last quarter. Bank of New Hampshire raised its stake in shares of Iron Mountain by 43.8% in the 2nd quarter. Bank of New Hampshire now owns 575 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 175 shares during the period. J.W. Cole Advisors Inc. raised its stake in shares of Iron Mountain by 2.8% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 6,429 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 177 shares during the period. Armor Investment Advisors LLC raised its stake in shares of Iron Mountain by 1.9% in the 2nd quarter. Armor Investment Advisors LLC now owns 9,996 shares of the financial services provider’s stock valued at $568,000 after purchasing an additional 186 shares during the period. Finally, Brown Brothers Harriman & Co. raised its stake in shares of Iron Mountain by 4.0% in the 1st quarter. Brown Brothers Harriman & Co. now owns 4,820 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 187 shares during the period. 76.94% of the stock is currently owned by institutional investors.

Iron Mountain Company Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management, innovative storage, data center infrastructure, and asset lifecycle management. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work.