Iron Mountain Incorporated (NYSE:IRM) Short Interest Down 10.2% in October

Iron Mountain Incorporated (NYSE:IRM) was the recipient of a significant drop in short interest in October. As of October 15th, there was short interest totalling 8,950,000 shares, a drop of 10.2% from the September 30th total of 9,970,000 shares. Based on an average daily volume of 1,610,000 shares, the days-to-cover ratio is presently 5.6 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on IRM shares. The Goldman Sachs Group raised their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Stifel Nicolaus raised their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. upped their target price on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Barclays raised their price target on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company upped their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain currently has an average rating of “Moderate Buy” and an average price target of $115.50.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,697,484. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,697,484. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,637 shares of company stock valued at $3,210,575. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its position in Iron Mountain by 3.4% during the 3rd quarter. Principal Financial Group Inc. now owns 352,451 shares of the financial services provider’s stock valued at $41,882,000 after acquiring an additional 11,685 shares in the last quarter. Blake Schutter Theil Wealth Advisors LLC bought a new stake in Iron Mountain during the third quarter valued at about $514,000. Avidian Wealth Enterprises LLC purchased a new position in Iron Mountain in the third quarter valued at about $223,000. Crescent Grove Advisors LLC raised its holdings in Iron Mountain by 4.7% in the third quarter. Crescent Grove Advisors LLC now owns 12,843 shares of the financial services provider’s stock worth $1,535,000 after purchasing an additional 571 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in shares of Iron Mountain by 0.6% during the third quarter. Asset Management One Co. Ltd. now owns 570,237 shares of the financial services provider’s stock valued at $67,761,000 after buying an additional 3,571 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Stock Performance

Iron Mountain stock opened at $123.70 on Friday. Iron Mountain has a fifty-two week low of $57.36 and a fifty-two week high of $130.24. The company has a market capitalization of $36.29 billion, a PE ratio of 158.59, a P/E/G ratio of 7.42 and a beta of 1.00. The company has a 50 day moving average price of $118.16 and a 200-day moving average price of $99.54. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.59). The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. Iron Mountain’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 earnings per share. As a group, equities analysts forecast that Iron Mountain will post 4.17 earnings per share for the current year.

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.