Iron Mountain (NYSE:IRM) Upgraded to "Strong-Buy" at Rothschild & Co Redburn

Key Points

• Rothschild & Co Redburn upgraded Iron Mountain to “strong-buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $139.83.
• Iron Mountain exceeded quarterly expectations, reporting $0.60 in earnings per share versus the $0.54 estimate and $2.03 billion in revenue, up 18.5% year over year.
• Insiders sold $15.8 million worth of shares over the past 90 days, while institutional investors own a substantial 80.13% of the company.

Iron Mountain (NYSE:IRM - Get Free Report) was upgraded by Rothschild & Co Redburn to a "strong-buy" rating in a report released on Monday, Zacks reports.

A number of other equities research analysts also recently commented on the stock. Wall Street Zen downgraded shares of Iron Mountain from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Wells Fargo & Company boosted their target price on shares of Iron Mountain from $135.00 to $140.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Weiss Ratings lowered Iron Mountain from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th. Barclays raised their price target on Iron Mountain from $143.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday, September 8th. Finally, Truist Financial upped their price objective on Iron Mountain from $140.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $139.83.

Iron Mountain Stock Performance

Shares of IRM opened at $116.74 on Monday. Iron Mountain has a 1 year low of $77.77 and a 1 year high of $134.68. The stock has a market capitalization of $34.75 billion, a PE ratio of 83.39 and a beta of 1.18. The stock has a 50-day simple moving average of $120.85 and a 200-day simple moving average of $119.00.

Iron Mountain (NYSE:IRM - Get Free Report) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.06. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.97 billion. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. The business's quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.24 earnings per share. 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. Analysts predict that Iron Mountain will post 5.42 EPS for the current year.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 38,474 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $121.67, for a total transaction of $4,681,131.58. Following the transaction, the chief executive officer directly owned 38,474 shares in the company, valued at approximately $4,681,131.58. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction on Friday, August 7th. The shares were sold at an average price of $122.70, for a total transaction of $736,200.00. Following the completion of the transaction, the executive vice president directly owned 101,507 shares in the company, valued at $12,454,908.90. The trade was a 5.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 132,422 shares of company stock worth $15,803,807 over the last 90 days. Corporate insiders own 1.70% of the company's stock.

Institutional Trading of Iron Mountain

Several institutional investors and hedge funds have recently added to or reduced their stakes in IRM. BlackRock Inc. acquired a new position in shares of Iron Mountain during the second quarter worth about $4,240,342,000. Norges Bank acquired a new stake in Iron Mountain in the fourth quarter valued at about $368,890,000. Legal & General Group Plc acquired a new stake in Iron Mountain in the second quarter valued at about $409,843,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Iron Mountain by 29,674.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,193,560 shares of the financial services provider's stock valued at $403,379,000 after purchasing an additional 3,182,834 shares in the last quarter. Finally, Cohen & Steers Inc. increased its position in Iron Mountain by 20.0% during the 4th 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. 80.13% of the stock is owned by hedge funds and other institutional investors.

About Iron Mountain

Iron Mountain Incorporated NYSE: IRM is a global information management and data storage company. Founded in 1951, the company helps organizations protect, manage and preserve physical and digital information throughout its lifecycle.

Its services include records storage, document management, secure shredding and destruction, information governance, data backup and recovery, and digital transformation. Iron Mountain also operates data centers that support colocation, cloud connectivity and other infrastructure needs for businesses and public-sector organizations.

The company serves customers across a range of industries, including financial services, healthcare, government, legal services and entertainment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.