Iron Mountain (NYSE:IRM) Downgraded to “Sell” Rating by StockNews.com

Iron Mountain (NYSE:IRM) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Tuesday.

A number of other brokerages also recently issued reports on IRM. Wells Fargo & Company increased their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Barclays decreased their price target on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada raised their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.83.

Iron Mountain Stock Performance

Shares of Iron Mountain stock traded down $5.46 during trading hours on Tuesday, reaching $98.53. The company’s stock had a trading volume of 4,196,255 shares, compared to its average volume of 2,005,896. The company has a market capitalization of $28.92 billion, a P/E ratio of 273.71, a P/E/G ratio of 6.05 and a beta of 1.02. The stock’s fifty day simple moving average is $110.29 and its two-hundred day simple moving average is $112.58. Iron Mountain has a one year low of $66.20 and a one year high of $130.24.

Insider Activity

In other news, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 69,131 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,016 shares of company stock valued at $13,666,427. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Iron Mountain

Several hedge funds and other institutional investors have recently made changes to their positions in IRM. PNC Financial Services Group Inc. raised its stake in shares of Iron Mountain by 2.8% during the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after purchasing an additional 1,446 shares during the period. Friedenthal Financial purchased a new stake in Iron Mountain during the 3rd quarter worth $824,000. Merit Financial Group LLC lifted its holdings in Iron Mountain by 91.5% in the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock worth $1,570,000 after buying an additional 7,137 shares in the last quarter. Tidal Investments LLC boosted its position in Iron Mountain by 254.1% in the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock valued at $2,440,000 after buying an additional 14,737 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Iron Mountain during the third quarter valued at about $24,122,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

About Iron Mountain

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.