Iron Mountain (NYSE:IRM) Upgraded at StockNews.com

Iron Mountain (NYSE:IRM - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other research firms also recently weighed in on IRM. Royal Bank of Canada boosted their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 27th. Barclays dropped their target price on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a report on Thursday, March 20th. Wells Fargo & Company lowered their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. dropped 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 report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $125.67.

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Iron Mountain Stock Down 2.5 %

NYSE IRM traded down $2.25 during trading hours on Friday, reaching $87.84. 1,684,388 shares of the company were exchanged, compared to its average volume of 1,683,673. Iron Mountain has a 1 year low of $73.53 and a 1 year high of $130.24. The business's 50 day simple moving average is $96.65 and its 200-day simple moving average is $109.03. The stock has a market capitalization of $25.80 billion, a P/E ratio of 144.00, a P/E/G ratio of 5.15 and a beta of 1.04.

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

Insiders Place Their Bets

In other news, CAO Daniel Borges sold 6,433 shares of the business's stock in a transaction 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 owns 288 shares of the company's stock, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain 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. Over the last ninety days, insiders have sold 318,979 shares of company stock worth $30,666,904. Company insiders own 2.10% of the company's stock.

Institutional Trading of Iron Mountain

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Iron Mountain by 1.6% in the third quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider's stock worth $978,479,000 after purchasing an additional 128,622 shares during the period. Wealthfront Advisers LLC boosted its position in Iron Mountain by 9,843.3% in the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock valued at $721,562,000 after buying an additional 6,795,792 shares during the period. Northern Trust Corp grew its stake in Iron Mountain by 56.1% in the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock worth $454,756,000 after acquiring an additional 1,554,746 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Iron Mountain by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,219,263 shares of the financial services provider's stock valued at $443,476,000 after acquiring an additional 15,097 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Iron Mountain by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider's stock worth $365,656,000 after purchasing an additional 92,475 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

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.