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

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

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

Iron Mountain Stock Performance

Shares of NYSE:IRM traded up $1.76 during midday trading on Tuesday, hitting $83.39. 1,727,819 shares of the stock were exchanged, compared to its average volume of 1,819,298. The company has a market capitalization of $24.50 billion, a PE ratio of 136.71, a P/E/G ratio of 5.15 and a beta of 0.97. Iron Mountain has a 52-week low of $72.33 and a 52-week high of $130.24. The business's fifty day simple moving average is $89.48 and its two-hundred day simple moving average is $105.53.

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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 the consensus estimate of $1.20 by ($0.70). The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same quarter in the prior year, the firm earned $0.52 earnings per share. As a group, equities analysts anticipate that Iron Mountain will post 4.54 EPS for the current year.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 172,552 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the transaction, the chief executive officer now owns 237,402 shares in the company, valued at approximately $21,681,924.66. The trade was a 42.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 318,973 shares of company stock valued at $29,370,872 in the last three months. Company insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Iron Mountain

Large investors have recently added to or reduced their stakes in the company. Merit Financial Group LLC boosted its stake in Iron Mountain by 91.5% during the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider's stock worth $1,570,000 after buying an additional 7,137 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Iron Mountain by 254.1% during the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider's stock valued at $2,440,000 after acquiring an additional 14,737 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Iron Mountain by 151.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider's stock valued at $961,000 after acquiring an additional 5,511 shares during the period. Proficio Capital Partners LLC acquired a new position in Iron Mountain in the fourth quarter worth about $102,000. Finally, Lord Abbett & CO. LLC bought a new position in Iron Mountain during the third quarter worth about $24,122,000. 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.