Barclays Cuts Iron Mountain (NYSE:IRM) Price Target to $131.00

Iron Mountain (NYSE:IRM) had its target price lowered by equities research analysts at Barclays from $133.00 to $131.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective would indicate a potential upside of 14.02% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. Stifel Nicolaus boosted their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. The Goldman Sachs Group boosted their target price on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. 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 note on Thursday, October 17th. JPMorgan Chase & Co. boosted their target price 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, BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Iron Mountain has an average rating of “Buy” and a consensus target price of $129.40.

Iron Mountain Stock Performance

Shares of IRM opened at $114.89 on Monday. The stock has a 50-day simple moving average of $119.57 and a 200-day simple moving average of $103.24. The stock has a market capitalization of $33.72 billion, a PE ratio of 319.15, a PEG ratio of 6.88 and a beta of 0.99. Iron Mountain has a 1 year low of $61.80 and a 1 year high of $130.24. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75.

Insider Buying and Selling at Iron Mountain

In other news, Director Wendy J. Murdock sold 8,500 shares of the business’s 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 transaction, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. The trade was a 36.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Edward Baker-Greene sold 2,262 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the transaction, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. This represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,387 shares of company stock worth $6,861,838. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new stake in Iron Mountain in the third quarter valued at $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Iron Mountain in the second quarter valued at $32,000. West Branch Capital LLC acquired a new stake in Iron Mountain in the third quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Iron Mountain in the second quarter valued at $36,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in Iron Mountain in the third quarter valued at $36,000. 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.