StockNews.com Downgrades Iron Mountain (NYSE:IRM) to Sell

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

IRM has been the topic of a number of other research reports. 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. JPMorgan Chase & Co. dropped their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Barclays dropped their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company dropped their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $127.67.

Iron Mountain Stock Performance

NYSE IRM opened at $86.68 on Friday. The stock has a market capitalization of $25.46 billion, a price-to-earnings ratio of 142.09, a PEG ratio of 5.15 and a beta of 1.04. The stock’s 50 day moving average price is $98.28 and its two-hundred day moving average price is $110.05. Iron Mountain has a 52 week low of $73.53 and a 52 week high of $130.24.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.70). The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same quarter in the previous year, the firm posted $0.52 EPS. On average, equities research analysts forecast that Iron Mountain will post 4.54 EPS for the current year.

Insider Buying and Selling

In related news, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 172,552 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the sale, the chief executive officer now directly owns 237,402 shares in the company, valued at $21,681,924.66. This trade represents a 42.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 327,242 shares of company stock worth $31,530,305. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Iron Mountain

Large investors have recently bought and sold shares of the business. IMG Wealth Management Inc. acquired a new stake in Iron Mountain in the fourth quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Iron Mountain in the fourth quarter valued at about $26,000. Key Financial Inc boosted its stake in 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 in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Iron Mountain in the third quarter valued at about $31,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in shares of Iron Mountain during the third quarter valued at about $36,000. 80.13% of the stock is 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.