Iron Mountain (NYSE:IRM) Raised 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 to clients and investors on Saturday.

IRM has been the subject of several other reports. Barclays dropped their price target on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday. Wells Fargo & Company dropped their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report 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 on the stock in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada increased their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain currently has an average rating of “Buy” and a consensus price target of $125.67.

Iron Mountain Trading Down 0.9 %

Shares of NYSE:IRM opened at $87.64 on Friday. The firm 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. The stock’s 50-day moving average price is $96.89 and its two-hundred day moving average price is $109.17. Iron Mountain has a 12-month low of $73.53 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM) last released its 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). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the business posted $0.52 earnings per share. As a group, research analysts forecast that Iron Mountain will post 4.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the completion of the sale, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. Insiders have sold 318,979 shares of company stock valued at $30,666,904 in the last quarter. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Iron Mountain

Institutional investors have recently modified their holdings of the stock. Wealthfront Advisers LLC raised its position in shares of Iron Mountain by 9,843.3% during the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock valued at $721,562,000 after acquiring an additional 6,795,792 shares in the last quarter. Norges Bank acquired a new position in Iron Mountain in the fourth quarter valued at approximately $348,249,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Iron Mountain by 537.0% during the third 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 purchasing an additional 2,672,821 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Iron Mountain by 56.1% during the fourth quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider’s stock valued at $454,756,000 after purchasing an additional 1,554,746 shares during the last quarter. Finally, TD Asset Management Inc. raised its position in shares of Iron Mountain by 125.4% during the 4th quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider’s stock worth $205,220,000 after purchasing an additional 1,086,308 shares during the period. 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.