StockNews.com Upgrades Iron Mountain (NYSE:IRM) to Hold

Iron Mountain (NYSE:IRM) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

Other analysts have also issued research reports about the stock. 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 research report on Tuesday, February 4th. Royal Bank of Canada raised their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. dropped their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, Barclays dropped their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $127.67.

Iron Mountain Price Performance

NYSE:IRM traded up $0.87 during trading hours on Tuesday, reaching $92.33. 2,449,462 shares of the company traded hands, compared to its average volume of 2,142,909. The firm’s 50-day moving average is $102.75 and its 200-day moving average is $112.16. The stock has a market cap of $27.12 billion, a P/E ratio of 151.36, a P/E/G ratio of 5.15 and a beta of 1.01. Iron Mountain has a 1-year low of $73.45 and a 1-year high of $130.24.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations 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 prior year, the business posted $0.52 EPS. As a group, research analysts predict that Iron Mountain will post 4.54 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $99.83, for a total value 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 valued at $16,805,912. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Iron Mountain

A number of institutional investors and hedge funds have recently bought and sold shares of IRM. IMG Wealth Management Inc. acquired a new stake in Iron Mountain during the 4th quarter valued at $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Iron Mountain in the fourth quarter worth about $26,000. Key Financial Inc boosted its holdings in Iron Mountain by 25,100.0% in 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 last quarter. Ashton Thomas Securities LLC acquired a new stake in Iron Mountain during the 3rd quarter valued at approximately $31,000. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in Iron Mountain during the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors 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.