Barclays Boosts Iron Mountain (NYSE:IRM) Price Target to $121.00

Iron Mountain (NYSE:IRM - Get Free Report) had its price target raised by equities researchers at Barclays from $118.00 to $121.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the financial services provider's stock. Barclays's target price would indicate a potential upside of 23.77% from the stock's previous close.

IRM has been the subject of several other reports. Wells Fargo & Company cut their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Truist Financial assumed coverage on Iron Mountain in a research report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 18th. Finally, Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Iron Mountain presently has an average rating of "Buy" and a consensus price target of $121.71.

Iron Mountain Stock Up 0.5%

Iron Mountain stock traded up $0.47 during trading on Tuesday, hitting $97.76. The stock had a trading volume of 1,246,985 shares, compared to its average volume of 1,852,964. The stock's 50 day moving average is $89.66 and its two-hundred day moving average is $98.87. Iron Mountain has a 1 year low of $72.33 and a 1 year high of $130.24. The stock has a market cap of $28.84 billion, a price-to-earnings ratio of 160.26, a price-to-earnings-growth ratio of 5.15 and a beta of 1.08.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.01. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The firm's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.10 EPS. As a group, equities research analysts anticipate that Iron Mountain will post 4.54 EPS for the current fiscal year.

Insider Activity at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the sale, the chief accounting officer now owns 288 shares in the company, valued at $26,737.92. This trade represents a 95.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,211,933.36. This trade represents a 11.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 327,371 shares of company stock valued at $29,919,729 over the last three months. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Iron Mountain

A number of institutional investors have recently made changes to their positions in IRM. Vanguard Group Inc. boosted its holdings in Iron Mountain by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 46,825,734 shares of the financial services provider's stock valued at $4,028,886,000 after acquiring an additional 220,564 shares during the period. Wealthfront Advisers LLC grew its holdings in shares of Iron Mountain by 9,843.3% in the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock worth $721,562,000 after purchasing an additional 6,795,792 shares during the last quarter. Northern Trust Corp increased its stake in shares of Iron Mountain by 56.1% in the fourth quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock worth $454,756,000 after buying an additional 1,554,746 shares during the period. Dimensional Fund Advisors LP raised its holdings in Iron Mountain by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,256,417 shares of the financial services provider's stock valued at $366,210,000 after buying an additional 37,154 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Iron Mountain by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider's stock valued at $365,656,000 after buying an additional 92,475 shares during the period. Hedge funds and other 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.