StockNews.com Downgrades Iron Mountain (NYSE:IRM) to Sell

Iron Mountain (NYSE:IRM - Get Free Report) was downgraded by research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued on Friday.

IRM has been the topic of a number of other research reports. Royal Bank of Canada raised their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 27th. Wells Fargo & Company dropped their price target on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. JPMorgan Chase & Co. dropped 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 note on Tuesday, February 18th. Finally, Barclays decreased their price objective on Iron Mountain from $131.00 to $130.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. One 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $127.67.

Iron Mountain Price Performance

NYSE:IRM traded down $1.59 during midday trading on Friday, hitting $87.56. The company's stock had a trading volume of 1,787,715 shares, compared to its average volume of 1,675,025. Iron Mountain has a fifty-two week low of $73.53 and a fifty-two week high of $130.24. The firm's 50 day moving average is $98.00 and its 200-day moving average is $109.87. The firm has a market cap of $25.72 billion, a P/E ratio of 143.54, a P/E/G ratio of 5.15 and a beta of 1.04.

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Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same quarter last year, the company posted $0.52 EPS. As a group, analysts forecast that Iron Mountain will post 4.54 EPS for the current year.

Insider Buying and Selling

In related news, EVP Mithu Bhargava sold 1,738 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the sale, the executive vice president now directly owns 13,054 shares of the company's stock, valued at approximately $1,211,933.36. This trade represents a 11.75 % 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 69,125 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $99.83, for a total value of $6,900,748.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 327,242 shares of company stock valued at $31,530,305. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Iron Mountain

Institutional investors and hedge funds have recently made changes to their positions in the stock. OneDigital Investment Advisors LLC lifted its stake in Iron Mountain by 1.5% during the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider's stock worth $711,000 after purchasing an additional 89 shares during the last quarter. Geller Advisors LLC raised its stake in shares of Iron Mountain by 2.9% during the third quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider's stock worth $403,000 after purchasing an additional 96 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Iron Mountain by 0.4% during the fourth 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 during the last quarter. Claro Advisors LLC raised its stake in shares of Iron Mountain by 0.6% during the third quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider's stock worth $1,986,000 after purchasing an additional 103 shares during the last quarter. Finally, Premier Path Wealth Partners LLC raised its stake in shares of Iron Mountain by 3.9% during the fourth quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider's stock worth $299,000 after purchasing an additional 106 shares during 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.