Iron Mountain's (IRM) "Hold (C)" Rating Reiterated at Weiss Ratings

Key Points

• Iron Mountain's stock has received a "Hold (C)" rating from Weiss Ratings, reflecting a cautious outlook on its performance.
• Barclays raised its target price for Iron Mountain shares from $121.00 to $122.00, while Jefferies initiated coverage with a "buy" rating and a target price of $120.00.
• Recent insider trading included significant sales by CEO William L. Meaney and EVP Mark Kidd, with insiders selling over 213,000 shares recently.

Iron Mountain (NYSE:IRM - Get Free Report)'s stock had its "hold (c)" rating reissued by research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Other equities research analysts have also recently issued reports about the stock. Barclays increased their target price on shares of Iron Mountain from $121.00 to $122.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Jefferies Financial Group initiated coverage on shares of Iron Mountain in a report on Monday, September 22nd. They issued a "buy" rating and a $120.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their target price on Iron Mountain from $112.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $116.83.

Iron Mountain Trading Down 0.3%

Shares of Iron Mountain stock opened at $105.62 on Wednesday. Iron Mountain has a twelve month low of $72.33 and a twelve month high of $130.24. The firm has a market capitalization of $31.19 billion, a PE ratio of 754.48 and a beta of 1.06. The firm's 50-day moving average price is $96.18 and its 200 day moving average price is $95.18.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, topping the consensus estimate of $1.19 by $0.05. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.68 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.Iron Mountain's quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.08 EPS. On average, sell-side analysts predict that Iron Mountain will post 4.54 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Mark Kidd sold 6,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total value of $546,300.00. Following the sale, the executive vice president directly owned 79,081 shares of the company's stock, valued at approximately $7,200,325.05. The trade was a 7.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $94.55, for a total transaction of $6,535,768.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 213,375 shares of company stock valued at $20,347,156. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Wedmont Private Capital grew its stake in shares of Iron Mountain by 9.9% in the third quarter. Wedmont Private Capital now owns 3,157 shares of the financial services provider's stock valued at $334,000 after buying an additional 285 shares in the last quarter. Czech National Bank boosted its holdings in Iron Mountain by 4.0% during the 3rd quarter. Czech National Bank now owns 75,013 shares of the financial services provider's stock valued at $7,647,000 after acquiring an additional 2,894 shares during the period. Woodstock Corp grew its position in Iron Mountain by 13.9% in the 3rd quarter. Woodstock Corp now owns 63,057 shares of the financial services provider's stock valued at $6,428,000 after acquiring an additional 7,679 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Iron Mountain by 1.6% during the third quarter. Assenagon Asset Management S.A. now owns 11,724 shares of the financial services provider's stock worth $1,195,000 after purchasing an additional 186 shares during the period. Finally, Oak Thistle LLC lifted its position in shares of Iron Mountain by 85.2% during the third quarter. Oak Thistle LLC now owns 11,980 shares of the financial services provider's stock worth $1,221,000 after purchasing an additional 5,513 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

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.

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