Iron Mountain (NYSE:IRM) Price Target Cut to $112.00 by Analysts at JPMorgan Chase & Co.

Iron Mountain (NYSE:IRM) had its target price cut by JPMorgan Chase & Co. from $125.00 to $112.00 in a report issued on Tuesday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other equities research analysts have also recently commented on the company. StockNews.com cut Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. Barclays reduced their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Royal Bank of Canada boosted their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company decreased their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $127.67.

Iron Mountain Stock Up 0.6 %

Shares of IRM opened at $93.39 on Tuesday. Iron Mountain has a 52-week low of $67.89 and a 52-week high of $130.24. The stock has a market cap of $27.43 billion, a PE ratio of 153.10, a price-to-earnings-growth ratio of 5.19 and a beta of 1.01. The firm’s fifty day moving average is $103.91 and its two-hundred day moving average is $112.39.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same quarter in the previous year, the firm posted $0.52 earnings per share. As a group, research analysts anticipate that Iron Mountain will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a $0.785 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s dividend payout ratio is currently 468.85%.

Insider Activity at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 162,391 shares of company stock worth $16,805,912. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. IMG Wealth Management Inc. purchased a new stake in shares of Iron Mountain during the fourth quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Iron Mountain in the 4th quarter valued at $26,000. Key Financial Inc lifted its position in shares of Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 251 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Iron Mountain during the third quarter worth $31,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in Iron Mountain in the third quarter valued at $36,000. 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.