Iron Mountain (NYSE:IRM) Rating Increased to Hold at StockNews.com

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 to investors on Friday.

A number of other research analysts have also weighed in on the stock. Truist Financial started coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They issued a “buy” rating and a $95.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Barclays lowered their target price on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Finally, Wells Fargo & Company cut their price target on 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 hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Buy” and an average price target of $121.29.

Iron Mountain Stock Up 1.9 %

IRM opened at $84.21 on Friday. The stock has a market cap of $24.74 billion, a P/E ratio of 138.05, a P/E/G ratio of 5.15 and a beta of 0.97. Iron Mountain has a 12 month low of $72.33 and a 12 month high of $130.24. The company has a fifty day simple moving average of $87.73 and a 200 day simple moving average of $104.67.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $0.52 earnings per share. On average, equities research analysts expect that Iron Mountain will post 4.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total transaction of $5,952,353.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,211,933.36. This represents a 11.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 318,973 shares of company stock worth $29,370,872. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

A number of institutional investors have recently bought and sold shares of IRM. M&T Bank Corp raised its stake in Iron Mountain by 0.4% in the 3rd quarter. M&T Bank Corp now owns 88,215 shares of the financial services provider’s stock valued at $10,482,000 after acquiring an additional 334 shares during the period. World Investment Advisors LLC bought a new position in shares of Iron Mountain in the third quarter valued at about $554,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Iron Mountain during the 3rd quarter worth about $837,000. Tidal Investments LLC boosted its holdings in shares of Iron Mountain by 254.1% during the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after buying an additional 14,737 shares during the period. Finally, Oddo BHF Asset Management Sas acquired a new position in Iron Mountain in the 3rd quarter valued at about $10,206,000. Institutional investors and hedge funds 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.