Royal Bank of Canada Boosts Iron Mountain (NYSE:IRM) Price Target to $139.00

Iron Mountain (NYSE:IRM) had its price target boosted by equities researchers at Royal Bank of Canada from $135.00 to $139.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 11.88% from the stock’s previous close.

Several other analysts have also recently commented on the company. JPMorgan Chase & Co. boosted their price target on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group upped their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Barclays dropped their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Finally, Stifel Nicolaus raised their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $131.00.

Iron Mountain Stock Up 0.5 %

IRM opened at $124.24 on Wednesday. The company has a market cap of $36.46 billion, a PE ratio of 345.11, a price-to-earnings-growth ratio of 7.26 and a beta of 0.99. Iron Mountain has a twelve month low of $62.95 and a twelve month high of $130.24. The company has a 50-day moving average price of $120.22 and a 200 day moving average price of $105.40. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63.

Insider Buying and Selling

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the sale, the director now directly owns 14,829 shares in the company, valued at $1,725,799.02. This trade represents a 36.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 that occurred on Monday, November 11th. The stock was sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $35,173,480.50. The trade was a 5.10 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,125 shares of company stock valued at $6,613,584. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Iron Mountain

A number of hedge funds and other institutional investors have recently bought and sold shares of IRM. Geode Capital Management LLC boosted its stake in shares of 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 valued at $978,479,000 after purchasing an additional 128,622 shares during the period. Legal & General Group Plc lifted its holdings in Iron Mountain by 49.2% during the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after buying an additional 1,286,694 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Iron Mountain by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider’s stock valued at $402,396,000 after buying an additional 141,675 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Iron Mountain by 537.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock worth $376,756,000 after acquiring an additional 2,672,821 shares in the last quarter. Finally, AGF Management Ltd. increased its position in shares of Iron Mountain by 76.3% during the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after acquiring an additional 972,101 shares during the period. 80.13% of the stock is currently 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.