Barclays Issues Pessimistic Forecast for Iron Mountain (NYSE:IRM) Stock Price

Iron Mountain (NYSE:IRM) had its price target reduced by investment analysts at Barclays from $130.00 to $118.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective points to a potential upside of 34.64% from the company’s previous close.

A number of other brokerages have also recently issued reports on IRM. StockNews.com cut Iron Mountain from a “hold” rating to a “sell” rating in a report on Friday, March 14th. JPMorgan Chase & Co. cut their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Royal Bank of Canada lifted their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Finally, Wells Fargo & Company cut their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $125.67.

Iron Mountain Price Performance

IRM opened at $87.64 on Thursday. Iron Mountain has a fifty-two week low of $73.53 and a fifty-two week high of $130.24. The firm’s fifty day moving average price is $96.89 and its two-hundred day moving average price is $109.22. The company has a market capitalization of $25.74 billion, a P/E ratio of 143.67, a P/E/G ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results 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 negative return on equity of 401.83% and a net margin of 2.95%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. On average, equities research analysts expect that Iron Mountain will post 4.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction dated Monday, March 3rd. The stock was 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 directly owns 13,054 shares in the company, valued at $1,211,933.36. This trade represents a 11.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. Insiders sold a total of 327,242 shares of company stock worth $31,530,305 over the last three months. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Iron Mountain

Several institutional investors and hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its position in shares of Iron Mountain by 23.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 51,874 shares of the financial services provider’s stock valued at $5,453,000 after purchasing an additional 9,937 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Iron Mountain in the 4th quarter valued at approximately $10,217,000. Comprehensive Money Management Services LLC acquired a new position in shares of Iron Mountain in the 4th quarter valued at approximately $1,499,000. Park Square Financial Group LLC acquired a new position in shares of Iron Mountain in the 4th quarter valued at approximately $314,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Iron Mountain in the 4th quarter valued at approximately $39,687,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

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.