Iron Mountain (NYSE:IRM) EVP Greg Mcintosh Sells 5,000 Shares of Stock

Iron Mountain Incorporated (NYSE:IRM) EVP Greg Mcintosh sold 5,000 shares of Iron Mountain stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $116.96, for a total transaction of $584,800.00. Following the completion of the transaction, the executive vice president owned 65,634 shares in the company, valued at approximately $7,676,552.64. This trade represents a 7.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Iron Mountain Stock Performance

Shares of IRM opened at $116.61 on Wednesday. The stock has a market capitalization of $34.71 billion, a P/E ratio of 83.29 and a beta of 1.18. Iron Mountain Incorporated has a 1 year low of $77.77 and a 1 year high of $134.68. The company’s fifty day moving average is $114.44 and its two-hundred day moving average is $115.13.

Iron Mountain (NYSE:IRM) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.54 by $0.06. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. The business’s revenue was up 18.5% on a year-over-year basis. During the same quarter last year, the business earned $1.24 EPS. Sell-side analysts predict that Iron Mountain Incorporated will post 5.42 EPS for the current year.

Institutional Trading of Iron Mountain

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bell Investment Advisors Inc bought a new position in shares of Iron Mountain during the second quarter worth about $26,000. Meeder Asset Management Inc. bought a new stake in Iron Mountain in the second quarter valued at about $27,000. Wellington Altus USA Inc. bought a new stake in Iron Mountain in the second quarter valued at about $27,000. Sawyer & Company Inc bought a new stake in Iron Mountain in the third quarter valued at about $27,000. Finally, Markowski Investments acquired a new stake in Iron Mountain during the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IRM. Weiss Ratings downgraded Iron Mountain from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 25th. JPMorgan Chase & Co. lifted their price target on Iron Mountain from $138.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. BNP Paribas Exane lifted their price target on Iron Mountain from $138.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Truist Financial upped their price objective on Iron Mountain from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Finally, Wall Street Zen cut Iron Mountain from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.89.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is a global information management and storage company that helps organizations protect, manage and optimize their physical and digital assets. Founded in 1951, the company began as a records storage provider and has expanded into a broader information lifecycle management business.

Its services include records storage and retrieval, information governance, secure shredding and destruction, document scanning, digital transformation, backup and recovery, and data center services.