Iron Mountain (NYSE:IRM) Cut 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 Monday.

Several other equities research analysts have also recently commented on the stock. Barclays lowered their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. JPMorgan Chase & Co. reduced their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company dropped their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. One research 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 stock. According to MarketBeat, Iron Mountain has a consensus rating of “Moderate Buy” and a consensus target price of $125.67.

Iron Mountain Trading Up 1.2 %

Shares of Iron Mountain stock traded up $1.04 during trading on Monday, reaching $86.14. The company’s stock had a trading volume of 2,368,331 shares, compared to its average volume of 1,765,926. The stock has a 50-day moving average price of $94.51 and a two-hundred day moving average price of $108.10. The stock has a market capitalization of $25.30 billion, a P/E ratio of 141.21, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain has a one year low of $73.53 and a one year high of $130.24.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the business posted $0.52 EPS. As a group, sell-side analysts anticipate that Iron Mountain will post 4.54 EPS for the current fiscal year.

Insider Activity

In other news, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,211,933.36. This represents a 11.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $597,239.72. Following the completion of the sale, the chief accounting officer now directly owns 288 shares in the company, valued at $26,737.92. This represents a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 318,979 shares of company stock worth $30,666,904 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Iron Mountain

A number of hedge funds and other institutional investors have recently bought and sold shares of IRM. Key Financial Inc lifted its position in shares of Iron Mountain by 25,100.0% in the fourth 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 position in shares of Iron Mountain during the 4th quarter worth approximately $26,000. IMG Wealth Management Inc. bought a new stake in shares of Iron Mountain during the 4th quarter worth approximately $26,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Iron Mountain by 46.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock valued at $51,000 after buying an additional 155 shares during the last quarter. Finally, Parkworth Wealth Management Inc. bought a new position in shares of Iron Mountain in the fourth quarter valued at $53,000. 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.