Iron Mountain (NYSE:IRM) Upgraded by BNP Paribas to "Strong-Buy" Rating

Iron Mountain (NYSE:IRM - Get Free Report) was upgraded by BNP Paribas to a "strong-buy" rating in a research note issued on Wednesday,Zacks.com reports.

Several other research firms have also recently issued reports on IRM. Wells Fargo & Company raised their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. The Goldman Sachs Group raised their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Stifel Nicolaus raised their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the company a "buy" rating in a report on Monday, September 23rd. Finally, Barclays raised their price target on shares of Iron Mountain from $91.00 to $133.00 and gave the company an "overweight" rating in a report on Wednesday, October 9th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Iron Mountain has a consensus rating of "Buy" and a consensus price target of $129.80.

Iron Mountain Trading Up 2.4 %

Shares of Iron Mountain stock traded up $2.79 during mid-day trading on Wednesday, hitting $119.71. 1,260,903 shares of the stock were exchanged, compared to its average volume of 1,493,211. Iron Mountain has a twelve month low of $58.55 and a twelve month high of $130.24. The stock has a market capitalization of $35.12 billion, a price-to-earnings ratio of 332.54, a price-to-earnings-growth ratio of 6.86 and a beta of 0.99. The company has a 50-day simple moving average of $119.20 and a 200 day simple moving average of $101.58. The company has a current ratio of 0.75, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the company's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the sale, the chief executive officer now directly owns 295,650 shares of the company's stock, valued at $34,697,484. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Iron Mountain news, COO John Tomovcsik sold 1,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the sale, the chief operating officer now directly owns 14,000 shares of the company's stock, valued at approximately $1,540,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,697,484. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,637 shares of company stock valued at $3,210,575 over the last ninety days. Corporate insiders own 2.10% of the company's stock.

Institutional Trading of Iron Mountain

Large investors have recently modified their holdings of the company. Centersquare Investment Management LLC grew its position in Iron Mountain by 7,892.6% in the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider's stock valued at $119,263,000 after buying an additional 1,519,237 shares in the last quarter. Legal & General Group Plc grew its position in Iron Mountain by 49.2% in the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider's stock valued at $349,453,000 after buying an additional 1,286,694 shares in the last quarter. AGF Management Ltd. grew its position in Iron Mountain by 76.3% in the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider's stock valued at $201,232,000 after buying an additional 972,101 shares in the last quarter. Mizuho Securities USA LLC grew its position in Iron Mountain by 2,193.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider's stock valued at $61,613,000 after buying an additional 495,898 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in Iron Mountain by 12,953.4% in the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider's stock valued at $53,312,000 after buying an additional 445,207 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

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.