Iron Mountain Incorporated (NYSE:IRM) Given Average Rating of “Buy” by Analysts

Iron Mountain Incorporated (NYSE:IRM) has received an average rating of “Buy” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $129.17.

A number of brokerages have recently weighed in on IRM. 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 report on Tuesday. Royal Bank of Canada upped their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, Barclays lowered their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. 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 business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $118.97, for a total value of $1,888,648.75. Following the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $35,173,480.50. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,266 shares of company stock worth $18,694,561. 2.10% of the stock is owned by company insiders.

Institutional Trading of Iron Mountain

Institutional investors have recently modified their holdings of the company. Key Financial Inc lifted its holdings in shares of Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after buying an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Iron Mountain in the fourth quarter valued at $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Iron Mountain in the third quarter valued at $31,000. West Branch Capital LLC acquired a new stake in shares of Iron Mountain in the third quarter valued at $33,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in shares of Iron Mountain in the third quarter valued at $36,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Trading Up 2.1 %

Shares of NYSE IRM opened at $106.14 on Friday. Iron Mountain has a twelve month low of $66.20 and a twelve month high of $130.24. The company has a market capitalization of $31.15 billion, a price-to-earnings ratio of 294.84, a price-to-earnings-growth ratio of 5.58 and a beta of 1.01. The business has a 50 day simple moving average of $107.66 and a 200-day simple moving average of $112.56.

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.