Iron Mountain (NYSE:IRM) Rating Lowered to “Sell” at StockNews.com

Iron Mountain (NYSE:IRM) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

A number of other equities research analysts have also issued reports on the stock. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada lifted their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Wells Fargo & Company upped their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, Barclays lowered their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and a consensus target price of $130.83.

Iron Mountain Stock Up 1.8 %

IRM opened at $100.56 on Tuesday. Iron Mountain has a twelve month low of $66.20 and a twelve month high of $130.24. The company has a market cap of $29.51 billion, a PE ratio of 279.34, a price-to-earnings-growth ratio of 6.05 and a beta of 1.02. The company has a 50-day moving average price of $109.98 and a 200 day moving average price of $112.50.

Insider Activity

In other news, CEO William L. Meaney sold 69,131 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total value of $7,248,385.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 125,016 shares of company stock worth $13,666,427. 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. OneDigital Investment Advisors LLC boosted its stake in shares of Iron Mountain by 1.5% in the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock valued at $711,000 after buying an additional 89 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Iron Mountain by 0.8% during the third quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock valued at $1,351,000 after acquiring an additional 92 shares during the last quarter. Geller Advisors LLC grew its holdings in shares of Iron Mountain by 2.9% during the third quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock worth $403,000 after buying an additional 96 shares in the last quarter. Schmidt P J Investment Management Inc. raised its holdings in Iron Mountain by 3.6% in the 3rd quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 100 shares during the last quarter. Finally, Claro Advisors LLC lifted its position in Iron Mountain by 0.6% during the third quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock worth $1,986,000 after buying an additional 103 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

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.