Wells Fargo & Company Has Lowered Expectations for Iron Mountain (NYSE:IRM) Stock Price

Iron Mountain (NYSE:IRM) had its price target lowered by Wells Fargo & Company from $135.00 to $125.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other research firms have also recently commented on IRM. Royal Bank of Canada increased their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. Finally, Barclays decreased their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $129.17.

Iron Mountain Stock Up 2.1 %

Iron Mountain stock opened at $106.14 on Tuesday. Iron Mountain has a 12-month low of $66.20 and a 12-month high of $130.24. The stock has a 50-day simple moving average of $107.66 and a 200 day simple moving average of $112.56. The stock has a market capitalization of $31.15 billion, a price-to-earnings ratio of 294.84, a P/E/G ratio of 5.58 and a beta of 1.01.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 178,266 shares of company stock valued at $18,694,561 over the last three months. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

Several institutional investors and hedge funds have recently made changes to their positions in IRM. Key Financial Inc lifted its holdings in Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC bought a new position in shares of Iron Mountain during the 4th quarter valued at about $26,000. Ashton Thomas Securities LLC acquired a new position in shares of Iron Mountain in the 3rd quarter valued at approximately $31,000. West Branch Capital LLC bought a new stake in Iron Mountain during the 3rd quarter worth approximately $33,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in Iron Mountain during the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds 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.