Iron Mountain (NYSE:IRM) Raised 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 report issued on Saturday.

Several other equities analysts have also recently commented on IRM. Wells Fargo & Company lowered 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 note on Tuesday, February 4th. Royal Bank of Canada increased their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Barclays dropped their target price on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. decreased their price target 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. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Iron Mountain currently has a consensus rating of “Buy” and a consensus target price of $125.67.

Iron Mountain Trading Down 0.9 %

Shares of NYSE IRM opened at $87.64 on Friday. Iron Mountain has a 12-month low of $73.53 and a 12-month high of $130.24. The company has a market cap of $25.74 billion, a PE ratio of 143.67, a P/E/G ratio of 5.15 and a beta of 1.04. The stock has a 50 day simple moving average of $96.89 and a 200-day simple moving average of $109.17.

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 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 last year, the firm posted $0.52 EPS. Sell-side analysts forecast that Iron Mountain will post 4.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 69,131 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Daniel Borges sold 6,433 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 value of $597,239.72. Following the completion of the transaction, the chief accounting officer now owns 288 shares of the company’s stock, valued at $26,737.92. This trade represents a 95.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 318,979 shares of company stock worth $30,666,904. 2.10% of the stock is owned by insiders.

Institutional Trading of Iron Mountain

A number of hedge funds have recently bought and sold shares of IRM. Caprock Group LLC raised its holdings in shares of Iron Mountain by 26.3% during the third quarter. Caprock Group LLC now owns 5,049 shares of the financial services provider’s stock valued at $605,000 after acquiring an additional 1,051 shares during the period. Prospera Financial Services Inc raised its stake in Iron Mountain by 11.3% during the 3rd quarter. Prospera Financial Services Inc now owns 2,808 shares of the financial services provider’s stock valued at $334,000 after purchasing an additional 285 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Iron Mountain by 2.8% in the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after purchasing an additional 1,446 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Iron Mountain in the third quarter valued at $1,427,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Iron Mountain by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider’s stock worth $402,396,000 after buying an additional 141,675 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

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.