Barclays Lowers Iron Mountain (NYSE:IRM) Price Target to $130.00

Iron Mountain (NYSE:IRM) had its price objective lowered by research analysts at Barclays from $131.00 to $130.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential upside of 29.28% from the stock’s previous close.

Several other analysts have also issued reports on IRM. Wells Fargo & Company boosted 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. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada upped their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.83.

Iron Mountain Stock Up 1.8 %

NYSE IRM opened at $100.56 on Tuesday. The company’s 50 day moving average is $109.98 and its 200-day moving average is $112.50. Iron Mountain has a 12-month low of $66.20 and a 12-month high of $130.24. The firm has a market cap of $29.51 billion, a P/E ratio of 279.34, a price-to-earnings-growth ratio of 6.05 and a beta of 1.02.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 69,131 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total value of $7,248,385.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $35,173,480.50. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,016 shares of company stock valued at $13,666,427 in the last quarter. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

Institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Iron Mountain by 537.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock worth $376,756,000 after acquiring an additional 2,672,821 shares during the last quarter. Mizuho Securities USA LLC lifted its position in shares of Iron Mountain by 2,193.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock worth $61,613,000 after purchasing an additional 495,898 shares during the period. International Assets Investment Management LLC lifted its position in shares of Iron Mountain by 12,953.4% in the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock worth $53,312,000 after purchasing an additional 445,207 shares during the period. abrdn plc lifted its position in shares of Iron Mountain by 88.2% in the 3rd quarter. abrdn plc now owns 626,280 shares of the financial services provider’s stock worth $73,770,000 after purchasing an additional 293,425 shares during the period. Finally, Strategic Financial Concepts LLC lifted its position in shares of Iron Mountain by 10,432.5% in the 4th quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 240,261 shares during the period. 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.