Iron Mountain (NYSE:IRM) Price Target Raised to $155.00 at Truist Financial

Key Points

• Truist Financial raised Iron Mountain’s price target from $140 to $155 and maintained a “buy” rating, implying 27.69% potential upside from the $121.39 opening price.
• Iron Mountain reported quarterly EPS of $0.60, exceeding estimates by $0.06, while revenue reached $2.03 billion, up 18.5% year over year and ahead of expectations.
• Analyst sentiment remains broadly positive, with five Buy ratings and two Holds for a “Moderate Buy” consensus and an average price target of $137.67; however, insiders sold $15.8 million of stock over the past 90 days.

Iron Mountain (NYSE:IRM - Get Free Report) had its target price boosted by equities researchers at Truist Financial from $140.00 to $155.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. Truist Financial's target price would indicate a potential upside of 27.69% from the company's current price.

Several other research firms also recently weighed in on IRM. JPMorgan Chase & Co. boosted their target price on shares of Iron Mountain from $121.00 to $138.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Weiss Ratings downgraded Iron Mountain from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday. Wells Fargo & Company upped their price objective on Iron Mountain from $135.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Zacks Research raised Iron Mountain from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 12th. Finally, Wall Street Zen downgraded Iron Mountain from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $137.67.

Iron Mountain Stock Performance

Shares of IRM opened at $121.39 on Thursday. Iron Mountain has a one year low of $77.77 and a one year high of $134.68. The stock has a 50-day moving average price of $124.19 and a 200 day moving average price of $117.95. The company has a market capitalization of $36.14 billion, a P/E ratio of 86.71 and a beta of 1.20.

Iron Mountain (NYSE:IRM - Get Free Report) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.54 by $0.06. The company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $1.97 billion. Iron Mountain had a negative return on equity of 85.44% and a net margin of 5.54%.The business's revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.24 EPS. Iron Mountain has set its Q3 2026 guidance at 1.470-1.470 EPS and its FY 2026 guidance at 5.870-5.930 EPS. As a group, equities research analysts forecast that Iron Mountain will post 5.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the firm's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $122.70, for a total value of $736,200.00. Following the sale, the executive vice president directly owned 101,507 shares in the company, valued at approximately $12,454,908.90. This trade represents a 5.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William L. Meaney sold 38,474 shares of the company's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $121.67, for a total transaction of $4,681,131.58. Following the transaction, the chief executive officer owned 38,474 shares of the company's stock, valued at $4,681,131.58. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 127,422 shares of company stock valued at $15,810,652 in the last 90 days. Insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On Iron Mountain

Hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System raised its stake in Iron Mountain by 12,879.2% during the 2nd quarter. California State Teachers Retirement System now owns 54,885,358 shares of the financial services provider's stock valued at $6,932,570,000 after acquiring an additional 54,462,487 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Iron Mountain during the second quarter valued at about $4,240,342,000. Cohen & Steers Inc. lifted its holdings in Iron Mountain by 20.0% in the fourth quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider's stock worth $1,568,110,000 after purchasing an additional 3,155,034 shares during the period. State Street Corp lifted its holdings in Iron Mountain by 1.9% in the third quarter. State Street Corp now owns 17,131,787 shares of the financial services provider's stock worth $1,759,494,000 after purchasing an additional 322,144 shares during the period. Finally, Geode Capital Management LLC grew its position in Iron Mountain by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 8,292,653 shares of the financial services provider's stock valued at $685,374,000 after buying an additional 102,073 shares in the last quarter. Institutional investors own 80.13% of the company's stock.

About Iron Mountain

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers' digital transformation.

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