Wells Fargo & Company Has Lowered Expectations for Iron Mountain (NYSE:IRM) Stock Price

Iron Mountain (NYSE:IRM) had its price objective reduced by equities research analysts at Wells Fargo & Company from $135.00 to $125.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 20.34% from the stock’s previous close.

A number of other analysts also recently issued reports on IRM. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada upped their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Barclays cut their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $129.17.

Iron Mountain Stock Up 2.6 %

Shares of NYSE:IRM opened at $103.87 on Tuesday. Iron Mountain has a fifty-two week low of $66.20 and a fifty-two week high of $130.24. The firm’s 50 day moving average price is $108.03 and its 200 day moving average price is $112.61. The stock has a market cap of $30.48 billion, a price-to-earnings ratio of 288.54, a price-to-earnings-growth ratio of 5.58 and a beta of 1.01.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $117.96, for a total value of $1,872,615.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,874,874. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 194,141 shares of company stock valued at $20,567,176 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

Several hedge funds have recently bought and sold shares of IRM. Key Financial Inc increased its position in Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Iron Mountain during the 4th quarter worth about $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of Iron Mountain during the third quarter worth about $31,000. West Branch Capital LLC acquired a new position in shares of Iron Mountain in the third quarter valued at approximately $33,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in shares of Iron Mountain during the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

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.