Iron Mountain (NYSE:IRM) Stock Price Down 4% Following Analyst Downgrade

Iron Mountain Incorporated (NYSE:IRM - Get Free Report) shares fell 4% on Tuesday after StockNews.com downgraded the stock from a hold rating to a sell rating. The stock traded as low as $101.27 and last traded at $99.80. 116,689 shares changed hands during trading, a decline of 93% from the average session volume of 1,764,132 shares. The stock had previously closed at $103.99.

Several other research firms have also recently issued reports on IRM. Royal Bank of Canada upped their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a research note on Wednesday, November 27th. Wells Fargo & Company upped their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. Barclays decreased their price target on shares of Iron Mountain from $131.00 to $130.00 and set an "overweight" rating on the stock in a research report on Tuesday. Finally, BNP Paribas upgraded Iron Mountain to a "strong-buy" rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $130.83.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total transaction of $7,248,385.35. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the sale, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 125,016 shares of company stock worth $13,666,427. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Iron Mountain

A number of institutional investors and hedge funds have recently made changes to their positions in IRM. Key Financial Inc raised its position in Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 251 shares during the period. Venturi Wealth Management LLC boosted its stake in Iron Mountain by 104.8% during the fourth quarter. Venturi Wealth Management LLC now owns 514 shares of the financial services provider's stock worth $54,000 after buying an additional 263 shares during the period. D.A. Davidson & CO. raised its stake in shares of Iron Mountain by 10.3% in the fourth quarter. D.A. Davidson & CO. now owns 29,523 shares of the financial services provider's stock valued at $3,103,000 after acquiring an additional 2,762 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Iron Mountain by 4.5% in the 4th quarter. CIBC Asset Management Inc now owns 44,952 shares of the financial services provider's stock worth $4,725,000 after acquiring an additional 1,937 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Iron Mountain by 17.9% during the 4th quarter. Principal Financial Group Inc. now owns 415,368 shares of the financial services provider's stock valued at $43,659,000 after purchasing an additional 62,917 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Trading Down 0.6 %

The stock's 50-day moving average is $109.64 and its two-hundred day moving average is $112.42. The company has a market capitalization of $29.75 billion, a PE ratio of 281.58, a price-to-earnings-growth ratio of 5.53 and a beta of 1.02.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date was Monday, December 16th. Iron Mountain's dividend payout ratio is currently 794.47%.

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.