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

Iron Mountain (NYSE:IRM) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other research firms have also recently issued reports 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. JPMorgan Chase & Co. reduced their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Barclays reduced their target price on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Royal Bank of Canada increased 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 research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $125.67.

Iron Mountain Stock Down 0.9 %

Shares of NYSE IRM opened at $87.64 on Friday. Iron Mountain has a 52 week low of $73.53 and a 52 week high of $130.24. The firm’s fifty day moving average is $96.89 and its 200 day moving average is $109.22. The company has a market cap of $25.74 billion, a price-to-earnings ratio of 143.67, a PEG ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data 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 company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same period in the previous year, the firm posted $0.52 earnings per share. Equities research analysts anticipate that Iron Mountain will post 4.54 earnings per share for the current year.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction 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. The trade was a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Daniel Borges sold 6,433 shares of the company’s 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 sale, the chief accounting officer now owns 288 shares of the company’s stock, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 327,242 shares of company stock valued at $31,530,305. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Iron Mountain

Several hedge funds have recently bought and sold shares of IRM. PNC Financial Services Group Inc. increased its holdings in Iron Mountain by 2.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock worth $6,402,000 after purchasing an additional 1,446 shares during the period. Merit Financial Group LLC grew its stake in Iron Mountain by 91.5% during the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock worth $1,570,000 after buying an additional 7,137 shares during the last quarter. Tidal Investments LLC grew its stake in 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 last quarter. Exchange Traded Concepts LLC lifted its position in Iron Mountain by 151.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock worth $961,000 after acquiring an additional 5,511 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new stake in Iron Mountain during the 3rd quarter worth approximately $24,122,000. 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.