Stifel Nicolaus Increases Iron Mountain (NYSE:IRM) Price Target to $140.00

Iron Mountain (NYSE:IRM) had its target price lifted by research analysts at Stifel Nicolaus from $117.00 to $140.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 21.36% from the stock’s current price.

Other equities analysts have also issued research reports about the company. The Goldman Sachs Group upped their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Iron Mountain has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Iron Mountain Price Performance

NYSE IRM opened at $115.36 on Monday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain has a 12 month low of $56.51 and a 12 month high of $118.46. The stock has a market cap of $33.82 billion, a price-to-earnings ratio of 174.79, a PEG ratio of 6.85 and a beta of 1.00. The company’s 50 day moving average is $108.27 and its two-hundred day moving average is $91.31.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.59). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 earnings per share. As a group, research analysts anticipate that Iron Mountain will post 4.17 earnings per share for the current year.

Insider Transactions at Iron Mountain

In related news, COO John Tomovcsik sold 1,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the transaction, the chief operating officer now directly owns 14,000 shares of the company’s stock, valued at $1,540,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Iron Mountain news, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the sale, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at $993,127.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John Tomovcsik sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the sale, the chief operating officer now directly owns 14,000 shares of the company’s stock, valued at $1,540,000. The disclosure for this sale can be found here. Insiders have sold 33,003 shares of company stock valued at $3,352,406 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

Several large investors have recently modified their holdings of IRM. Commerce Bank boosted its stake in Iron Mountain by 2.1% during the fourth quarter. Commerce Bank now owns 22,247 shares of the financial services provider’s stock worth $1,557,000 after buying an additional 450 shares during the period. Congress Wealth Management LLC DE purchased a new stake in shares of Iron Mountain in the fourth quarter valued at $509,000. Hsbc Holdings PLC lifted its holdings in shares of Iron Mountain by 16.4% in the 4th quarter. Hsbc Holdings PLC now owns 419,721 shares of the financial services provider’s stock worth $29,402,000 after acquiring an additional 59,135 shares during the last quarter. Heritage Wealth Advisors purchased a new position in shares of Iron Mountain during the 4th quarter worth about $38,000. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Iron Mountain during the 4th quarter valued at about $124,000. Institutional investors 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.