StockNews.com Upgrades Iron Mountain (NYSE:IRM) to Hold

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

Several other analysts have also weighed in on IRM. JPMorgan Chase & Co. dropped their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Barclays cut their price objective on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Finally, Wells Fargo & Company decreased their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Iron Mountain currently has a consensus rating of “Buy” and an average target price of $121.29.

Iron Mountain Price Performance

IRM opened at $84.47 on Tuesday. The company has a market capitalization of $24.81 billion, a P/E ratio of 138.48, a P/E/G ratio of 5.15 and a beta of 0.97. The firm’s fifty day moving average price is $90.22 and its two-hundred day moving average price is $106.04. Iron Mountain has a fifty-two week low of $72.33 and a fifty-two week high of $130.24.

Iron Mountain (NYSE:IRM) last posted its quarterly 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 business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the company earned $0.52 EPS. On average, equities research analysts expect that Iron Mountain will post 4.54 EPS for the current fiscal year.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total value of $6,900,748.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,211,933.36. This represents a 11.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 318,973 shares of company stock worth $29,370,872. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

Institutional investors have recently modified their holdings of the stock. RFG Advisory LLC grew its holdings in Iron Mountain by 28.2% during the first quarter. RFG Advisory LLC now owns 18,183 shares of the financial services provider’s stock valued at $1,564,000 after purchasing an additional 4,005 shares during the period. Merit Financial Group LLC grew its holdings in shares of Iron Mountain by 2.3% in the 1st quarter. Merit Financial Group LLC now owns 15,278 shares of the financial services provider’s stock valued at $1,315,000 after buying an additional 345 shares during the period. NBC Securities Inc. increased its position in shares of Iron Mountain by 108,440.0% in the 1st quarter. NBC Securities Inc. now owns 5,427 shares of the financial services provider’s stock valued at $466,000 after buying an additional 5,422 shares in the last quarter. Czech National Bank raised its stake in Iron Mountain by 6.0% during the 1st quarter. Czech National Bank now owns 67,467 shares of the financial services provider’s stock worth $5,805,000 after buying an additional 3,839 shares during the period. Finally, Mechanics Bank Trust Department bought a new position in Iron Mountain during the first quarter worth about $295,000. 80.13% of the stock is currently 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.