Iron Mountain (NYSE:IRM) Price Target Cut to $130.00 by Analysts at Barclays

Iron Mountain (NYSE:IRM) had its target price cut by Barclays from $131.00 to $130.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price points to a potential upside of 25.20% from the company’s previous close.

IRM has been the subject of a number of other research reports. Wells Fargo & Company boosted their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Royal Bank of Canada boosted their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Finally, BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Iron Mountain currently has an average rating of “Buy” and an average price target of $130.83.

Iron Mountain Stock Performance

NYSE IRM opened at $103.84 on Tuesday. Iron Mountain has a 52-week low of $66.20 and a 52-week high of $130.24. The company has a fifty day moving average of $110.65 and a 200-day moving average of $112.56. The company has a market capitalization of $30.47 billion, a P/E ratio of 288.44, a P/E/G ratio of 6.05 and a beta of 1.02.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $117.96, for a total value of $1,872,615.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,874,874. The trade was a 5.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,016 shares of company stock worth $13,666,427. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in IRM. OneDigital Investment Advisors LLC raised its holdings in Iron Mountain by 1.5% in the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock worth $711,000 after purchasing an additional 89 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Iron Mountain by 0.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock worth $1,351,000 after acquiring an additional 92 shares in the last quarter. Geller Advisors LLC lifted its position in Iron Mountain by 2.9% during the 3rd quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock valued at $403,000 after acquiring an additional 96 shares during the period. Schmidt P J Investment Management Inc. boosted its stake in Iron Mountain by 3.6% during the third quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock worth $340,000 after acquiring an additional 100 shares in the last quarter. Finally, Claro Advisors LLC grew its holdings in Iron Mountain by 0.6% in the third quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock worth $1,986,000 after purchasing an additional 103 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.