Iron Mountain (NYSE:IRM) Earns Buy Rating from Analysts at Truist Financial

Equities researchers at Truist Financial assumed coverage on shares of Iron Mountain (NYSE:IRM) in a research report issued on Tuesday. The firm set a “buy” rating and a $95.00 price target on the financial services provider’s stock. Truist Financial’s price objective suggests a potential upside of 15.99% from the company’s current price.

A number of other equities research analysts have also recently weighed in on IRM. JPMorgan Chase & Co. cut their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Wells Fargo & Company dropped their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Barclays cut their price objective on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Finally, StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain presently has an average rating of “Buy” and a consensus target price of $121.29.

Iron Mountain Trading Up 5.6 %

NYSE:IRM traded up $4.37 on Tuesday, reaching $81.90. The stock had a trading volume of 258,622 shares, compared to its average volume of 1,787,836. Iron Mountain has a 12-month low of $72.33 and a 12-month high of $130.24. The stock has a market cap of $24.06 billion, a P/E ratio of 134.35, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. The company has a 50-day moving average of $91.82 and a 200 day moving average of $106.91.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the company earned $0.52 earnings per share. On average, equities analysts predict that Iron Mountain will post 4.54 EPS for the current year.

Insider Activity

In related news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total transaction of $5,952,353.75. The transaction was disclosed in a legal filing 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 that occurred on 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 318,973 shares of company stock valued at $29,370,872 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Iron Mountain

A number of hedge funds have recently modified their holdings of the company. Key Financial Inc lifted its holdings in shares of 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 acquiring an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC bought a new position in Iron Mountain during the 4th quarter valued at about $26,000. IMG Wealth Management Inc. bought a new position in shares of Iron Mountain in the fourth quarter valued at approximately $26,000. Franchise Capital Ltd bought a new stake in shares of Iron Mountain during the first quarter worth $39,000. Finally, Whittier Trust Co. of Nevada Inc. increased its position in 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 acquiring an additional 155 shares in the last quarter. 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.