Barclays Issues Pessimistic Forecast for Iron Mountain (NYSE:IRM) Stock Price

Iron Mountain (NYSE:IRM) had its target price decreased by analysts at Barclays from $130.00 to $118.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective points to a potential upside of 33.43% from the stock’s current price.

A number of other equities research analysts have also recently commented on IRM. Royal Bank of Canada increased their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Wells Fargo & Company cut their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. JPMorgan Chase & Co. cut their price objective on 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, StockNews.com lowered Iron Mountain from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $125.67.

Iron Mountain Stock Performance

Shares of NYSE:IRM opened at $88.44 on Thursday. The business’s fifty day moving average price is $97.45 and its two-hundred day moving average price is $109.54. The stock has a market cap of $25.98 billion, a PE ratio of 145.07, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain has a one year low of $73.53 and a one year high of $130.24.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.50 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 analyst estimates 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 quarter last year, the company posted $0.52 EPS. As a group, equities research analysts predict that Iron Mountain will post 4.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the transaction, the chief accounting officer now directly owns 288 shares in the company, valued at approximately $26,737.92. This trade represents a 95.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 327,242 shares of company stock worth $31,530,305. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Iron Mountain

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geller Advisors LLC grew its position in Iron Mountain by 2.9% in the third quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock worth $403,000 after buying an additional 96 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in Iron Mountain by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider’s stock worth $2,644,000 after purchasing an additional 100 shares in the last quarter. Premier Path Wealth Partners LLC grew its holdings in shares of Iron Mountain by 3.9% during the 4th quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider’s stock valued at $299,000 after acquiring an additional 106 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in shares of Iron Mountain by 1.6% during the 4th quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider’s stock valued at $821,000 after acquiring an additional 112 shares in the last quarter. Finally, Mather Group LLC. lifted its stake in shares of Iron Mountain by 4.6% in the 4th quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider’s stock valued at $271,000 after purchasing an additional 113 shares during the last quarter. 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.