Iron Mountain (NYSE:IRM) Downgraded by Zacks Research to Strong Sell

Key Points

• Zacks Research downgraded Iron Mountain (NYSE:IRM) from a "hold" to a "strong sell" in a report issued Monday.
• Company insiders have sold 451,648 shares worth roughly $48.3 million over the past 90 days — including large EVP sales — and now own just 1.70% of the stock.
• Analyst views are mixed (three Buys, one Hold, one Sell) giving a MarketBeat consensus of "Hold" with an average target of $122, while the stock trades near $114 with a market cap of $33.9 billion and a trailing P/E of about 238.

Iron Mountain (NYSE:IRM - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Monday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Iron Mountain in a report on Thursday, January 22nd. Barclays lifted their price target on shares of Iron Mountain from $126.00 to $127.00 and gave the company an "overweight" rating in a report on Monday, February 23rd. Finally, Loop Capital set a $130.00 price target on shares of Iron Mountain in a report on Wednesday, March 4th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Iron Mountain currently has a consensus rating of "Hold" and an average target price of $122.00.

Iron Mountain Stock Performance

NYSE IRM opened at $114.08 on Monday. Iron Mountain has a one year low of $77.77 and a one year high of $115.24. The company has a 50-day simple moving average of $105.06 and a 200-day simple moving average of $97.07. The firm has a market capitalization of $33.94 billion, a PE ratio of 237.67 and a beta of 1.13.

Insider Activity

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the business's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $102.71, for a total transaction of $616,260.00. Following the completion of the transaction, the executive vice president directly owned 125,507 shares of the company's stock, valued at $12,890,823.97. The trade was a 4.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mithu Bhargava sold 59,725 shares of the business's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $104.62, for a total transaction of $6,248,429.50. Following the transaction, the executive vice president directly owned 16,054 shares of the company's stock, valued at $1,679,569.48. The trade was a 78.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 451,648 shares of company stock valued at $48,297,449. Company insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IRM. Koshinski Asset Management Inc. grew its stake in shares of Iron Mountain by 2.0% in the third quarter. Koshinski Asset Management Inc. now owns 5,108 shares of the financial services provider's stock worth $521,000 after purchasing an additional 98 shares in the last quarter. NorthCrest Asset Manangement LLC grew its stake in shares of Iron Mountain by 3.6% in the third quarter. NorthCrest Asset Manangement LLC now owns 2,929 shares of the financial services provider's stock worth $310,000 after purchasing an additional 103 shares in the last quarter. Continuum Advisory LLC grew its stake in shares of Iron Mountain by 5.3% in the third quarter. Continuum Advisory LLC now owns 2,077 shares of the financial services provider's stock worth $212,000 after purchasing an additional 104 shares in the last quarter. Rothschild Investment LLC grew its stake in shares of Iron Mountain by 15.4% in the fourth quarter. Rothschild Investment LLC now owns 780 shares of the financial services provider's stock worth $65,000 after purchasing an additional 104 shares in the last quarter. Finally, Natural Investments LLC grew its stake in shares of Iron Mountain by 3.1% in the third quarter. Natural Investments LLC now owns 3,581 shares of the financial services provider's stock worth $365,000 after purchasing an additional 107 shares in the last quarter. Institutional investors own 80.13% of the company's stock.

Iron Mountain Company Profile

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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