Iron Mountain (NYSE:IRM) Upgraded to “Hold” by StockNews.com

Iron Mountain (NYSE:IRM – Get Rating) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Saturday.

A number of other analysts have also commented on the company. Barclays boosted their target price on Iron Mountain from $56.00 to $64.00 in a research report on Friday, May 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $58.00 target price on shares of Iron Mountain in a research report on Monday, March 6th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Iron Mountain Stock Down 0.2 %

Shares of NYSE:IRM opened at $55.09 on Friday. The firm has a market cap of $16.07 billion, a P/E ratio of 27.82, a P/E/G ratio of 3.71 and a beta of 0.91. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 19.91. Iron Mountain has a 12-month low of $43.33 and a 12-month high of $57.21. The business has a fifty day simple moving average of $53.15 and a 200 day simple moving average of $52.59.

Iron Mountain (NYSE:IRM – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The financial services provider reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.46). Iron Mountain had a return on equity of 88.48% and a net margin of 11.20%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the business posted $0.74 earnings per share. The business’s revenue was up 10.3% on a year-over-year basis. Analysts predict that Iron Mountain will post 3.77 earnings per share for the current year.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 10,507 shares of Iron Mountain stock in a transaction dated Friday, April 14th. The stock was sold at an average price of $53.55, for a total transaction of $562,649.85. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $15,832,057.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO William L. Meaney sold 10,507 shares of the business’s stock in a transaction that occurred on Friday, April 14th. The stock was sold at an average price of $53.55, for a total value of $562,649.85. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $15,832,057.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Deborah Marson sold 1,125 shares of the business’s stock in a transaction that occurred on Wednesday, April 12th. The stock was sold at an average price of $54.00, for a total value of $60,750.00. Following the completion of the transaction, the executive vice president now owns 62,026 shares in the company, valued at approximately $3,349,404. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,552 shares of company stock worth $4,993,621. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Iron Mountain

Hedge funds have recently modified their holdings of the stock. Tobam raised its stake in Iron Mountain by 8.4% in the fourth quarter. Tobam now owns 2,284 shares of the financial services provider’s stock worth $114,000 after buying an additional 177 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Iron Mountain by 4.0% during the first quarter. Brown Brothers Harriman & Co. now owns 4,820 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 187 shares in the last quarter. Cresset Asset Management LLC increased its stake in shares of Iron Mountain by 1.2% during the first quarter. Cresset Asset Management LLC now owns 16,001 shares of the financial services provider’s stock valued at $855,000 after purchasing an additional 195 shares in the last quarter. Herbst Group LLC increased its stake in shares of Iron Mountain by 0.8% during the third quarter. Herbst Group LLC now owns 25,300 shares of the financial services provider’s stock valued at $1,112,000 after purchasing an additional 200 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of Iron Mountain by 1.1% during the fourth quarter. Louisiana State Employees Retirement System now owns 18,800 shares of the financial services provider’s stock valued at $937,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 77.12% of the company’s stock.

Iron Mountain Company Profile

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Iron Mountain, Inc engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business.