Iron Mountain (NYSE:IRM) Price Target Cut to $125.00 by Analysts at Wells Fargo & Company

Iron Mountain (NYSE:IRM) had its price objective lowered by 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.

Several other analysts also recently weighed in on the company. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. 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 research report on Tuesday, January 28th. Finally, Royal Bank of Canada lifted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $129.17.

Iron Mountain Price Performance

Shares of NYSE IRM opened at $101.31 on Tuesday. The stock has a market cap of $29.73 billion, a P/E ratio of 281.42, a price-to-earnings-growth ratio of 5.58 and a beta of 1.01. Iron Mountain has a 1 year low of $66.20 and a 1 year high of $130.24. The firm has a 50-day moving average of $108.43 and a 200 day moving average of $112.67.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,874,874. This trade represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,016 shares of company stock valued at $13,666,427. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Key Financial Inc boosted its stake in Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after buying an additional 251 shares during the period. Ashton Thomas Securities LLC acquired a new position in Iron Mountain during the 3rd quarter worth $31,000. West Branch Capital LLC purchased a new stake in shares of Iron Mountain during the third quarter worth approximately $33,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Iron Mountain in the 3rd quarter valued at $36,000. Finally, Dunhill Financial LLC lifted its holdings in Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after buying an additional 152 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

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.