Iron Mountain (NYSE:IRM) Stock Rating Lowered by StockNews.com

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 note issued on Monday.

Other analysts have also issued reports about the company. Barclays dropped their price objective on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a report on Thursday, March 20th. Wells Fargo & Company decreased their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. cut their target price on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $125.67.

Iron Mountain Trading Down 5.7 %

Iron Mountain stock traded down $5.04 during mid-day trading on Monday, hitting $83.07. The company had a trading volume of 1,961,697 shares, compared to its average volume of 1,771,438. The company has a market capitalization of $24.40 billion, a price-to-earnings ratio of 136.17, a P/E/G ratio of 5.15 and a beta of 1.04. Iron Mountain has a 12-month low of $73.53 and a 12-month high of $130.24. The company's fifty day moving average is $93.59 and its 200-day moving average is $107.75.

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Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.70). The firm had revenue of $1.58 billion for the quarter, compared to analysts' expectations 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 period last year, the company posted $0.52 earnings per share. As a group, sell-side analysts expect that Iron Mountain will post 4.54 EPS for the current fiscal year.

Insider Buying and Selling

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the transaction, the chief accounting officer now directly owns 288 shares of the company's stock, valued at $26,737.92. This trade represents a 95.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at $1,211,933.36. This trade represents a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 249,848 shares of company stock worth $23,418,519. 2.10% of the stock is owned by insiders.

Institutional Trading of Iron Mountain

A number of hedge funds and other institutional investors have recently modified their holdings of IRM. Geller Advisors LLC grew its holdings in shares of Iron Mountain by 2.9% in the third quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider's stock valued at $403,000 after purchasing an additional 96 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of Iron Mountain by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider's stock valued at $2,644,000 after buying an additional 100 shares during the period. Premier Path Wealth Partners LLC increased 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 worth $299,000 after buying an additional 106 shares during the last quarter. Belpointe Asset Management LLC raised its position 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 buying an additional 112 shares during the period. Finally, Mather Group LLC. lifted its holdings in Iron Mountain by 4.6% in the fourth quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider's stock valued at $271,000 after acquiring an additional 113 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

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.