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

Iron Mountain (NYSE:IRM) had its price target increased by equities researchers at Royal Bank of Canada from $135.00 to $139.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 11.95% from the stock’s current price.

Several other analysts have also recently weighed in on the company. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Wells Fargo & Company lifted their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. upped their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Stifel Nicolaus lifted their price objective 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. Finally, Barclays decreased their target price on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Iron Mountain presently has a consensus rating of “Buy” and a consensus target price of $131.00.

Iron Mountain Stock Performance

IRM traded up $0.55 on Wednesday, reaching $124.16. The company had a trading volume of 192,318 shares, compared to its average volume of 1,587,737. The company’s fifty day moving average is $120.06 and its 200 day moving average is $105.26. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market cap of $36.44 billion, a P/E ratio of 344.90, a P/E/G ratio of 7.26 and a beta of 0.99. Iron Mountain has a fifty-two week low of $62.95 and a fifty-two week high of $130.24.

Insider Transactions at Iron Mountain

In other news, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the transaction, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. The trade was a 36.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $35,173,480.50. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,125 shares of company stock valued at $6,613,584. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Iron Mountain by 537.0% during the 3rd 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 during the last quarter. Legal & General Group Plc grew its holdings in shares of Iron Mountain by 49.2% during the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after purchasing an additional 1,286,694 shares during the last quarter. AGF Management Ltd. increased its stake in shares of Iron Mountain by 76.3% in the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after buying an additional 972,101 shares during the period. Mizuho Securities USA LLC raised its holdings in Iron Mountain by 2,193.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock valued at $61,613,000 after buying an additional 495,898 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in Iron Mountain by 12,953.4% during the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock worth $53,312,000 after buying an additional 445,207 shares during the period. 80.13% of the stock is currently owned by 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.