StockNews.com Downgrades Iron Mountain (NYSE:IRM) to Sell

Iron Mountain (NYSE:IRM) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Tuesday.

Other analysts have also recently issued research reports about the stock. Barclays cut their price target 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. Royal Bank of Canada raised 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. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company raised their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $130.83.

Iron Mountain Trading Down 5.2 %

Shares of NYSE:IRM traded down $5.46 during trading on Tuesday, hitting $98.53. 4,196,255 shares of the company were exchanged, compared to its average volume of 2,005,896. Iron Mountain has a fifty-two week low of $66.20 and a fifty-two week high of $130.24. The stock has a market cap of $28.92 billion, a price-to-earnings ratio of 273.71, a P/E/G ratio of 6.05 and a beta of 1.02. The firm has a fifty day moving average price of $110.29 and a two-hundred day moving average price of $112.58.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 15,872 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $117.96, for a total value of $1,872,615.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,874,874. This trade represents a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 125,016 shares of company stock worth $13,666,427 in the last ninety days. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Iron Mountain

Institutional investors and hedge funds have recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in Iron Mountain in the third quarter valued at about $31,000. West Branch Capital LLC acquired a new stake in shares of Iron Mountain in the 3rd quarter valued at approximately $33,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Iron Mountain during the 3rd quarter valued at approximately $36,000. Dunhill Financial LLC increased its position in Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 152 shares in the last quarter. Finally, Oakworth Capital Inc. bought a new position in Iron Mountain in the 4th quarter valued at approximately $55,000. Institutional investors own 80.13% of the company’s stock.

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.