Iron Mountain (NYSE:IRM) Given New $125.00 Price Target at Wells Fargo & Company

Iron Mountain (NYSE:IRM) had its target price decreased by equities researchers at Wells Fargo & Company from $135.00 to $125.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 25.20% from the stock’s current price.

A number of other equities analysts have also recently commented on IRM. Barclays reduced their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. Finally, 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. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus target price of $129.17.

Iron Mountain Stock Performance

Shares of IRM traded down $0.80 during mid-day trading on Tuesday, hitting $99.84. 46,635 shares of the company were exchanged, compared to its average volume of 1,861,241. The stock has a market cap of $29.30 billion, a price-to-earnings ratio of 276.51, a price-to-earnings-growth ratio of 5.58 and a beta of 1.01. Iron Mountain has a 1-year low of $66.20 and a 1-year high of $130.24. The company has a 50 day moving average of $108.88 and a 200-day moving average of $112.65.

Insider Transactions at Iron Mountain

In related news, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 15,872 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total transaction of $1,793,377.28. The disclosure for this sale can be found here. Insiders sold 125,016 shares of company stock worth $13,666,427 in the last 90 days. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Iron Mountain

A number of institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 valued at $376,756,000 after acquiring an additional 2,672,821 shares in the last quarter. Mizuho Securities USA LLC lifted its holdings in Iron Mountain by 2,193.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock worth $61,613,000 after buying an additional 495,898 shares in the last quarter. International Assets Investment Management LLC boosted its position in 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 valued at $53,312,000 after buying an additional 445,207 shares during the period. abrdn plc increased its position in shares of Iron Mountain by 88.2% during the third quarter. abrdn plc now owns 626,280 shares of the financial services provider’s stock worth $73,770,000 after acquiring an additional 293,425 shares during the period. Finally, Strategic Financial Concepts LLC raised its stake in shares of Iron Mountain by 10,432.5% in the fourth quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 240,261 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

About Iron Mountain

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.