Iron Mountain Incorporated (NYSE:IRM) Stock Position Raised by Arkadios Wealth Advisors

Arkadios Wealth Advisors raised its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 6.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,812 shares of the financial services provider’s stock after purchasing an additional 158 shares during the period. Arkadios Wealth Advisors’ holdings in Iron Mountain were worth $334,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Iron Mountain during the 2nd quarter worth about $32,000. West Branch Capital LLC purchased a new stake in shares of Iron Mountain during the 3rd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Iron Mountain in the 2nd quarter valued at approximately $36,000. Headlands Technologies LLC bought a new position in shares of Iron Mountain in the 1st quarter valued at approximately $38,000. Finally, Family Firm Inc. bought a new position in shares of Iron Mountain in the 2nd quarter valued at approximately $45,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

IRM opened at $127.65 on Thursday. The firm has a market capitalization of $37.44 billion, a P/E ratio of 163.65, a price-to-earnings-growth ratio of 7.42 and a beta of 1.00. The stock’s 50 day moving average price is $118.16 and its two-hundred day moving average price is $99.54. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 12-month low of $57.36 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business earned $0.94 EPS. On average, equities analysts forecast that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Transactions at Iron Mountain

In other news, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the sale, the chief operating officer now owns 14,000 shares of the company’s stock, valued at approximately $1,540,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain 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 owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. Following the sale, the chief operating officer now directly owns 14,000 shares in the company, valued at $1,540,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,637 shares of company stock valued at $3,210,575. 2.10% of the stock is owned by corporate insiders.

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.