Stifel Nicolaus Raises Iron Mountain (NYSE:IRM) Price Target to $103.00

Iron Mountain (NYSE:IRM) had its target price lifted by stock analysts at Stifel Nicolaus from $86.00 to $103.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Stifel Nicolaus’ target price points to a potential upside of 8.97% from the stock’s previous close.

A number of other research analysts also recently commented on the company. Wells Fargo & Company boosted their price target on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. The Goldman Sachs Group boosted their target price on shares of Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $82.83.

Iron Mountain Price Performance

Iron Mountain stock opened at $94.52 on Wednesday. The stock’s fifty day moving average price is $84.96 and its two-hundred day moving average price is $77.43. The firm has a market cap of $27.71 billion, a PE ratio of 143.21, a price-to-earnings-growth ratio of 5.50 and a beta of 0.98. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86. Iron Mountain has a one year low of $56.51 and a one year high of $97.50.

Insider Activity

In related news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $76.68, for a total value of $1,217,295.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $22,670,442. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO John Tomovcsik sold 35,084 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $88.76, for a total transaction of $3,114,055.84. Following the sale, the chief operating officer now directly owns 20,366 shares in the company, valued at $1,807,686.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $22,670,442. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,928 shares of company stock worth $9,726,673. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cohen & Steers Inc. grew its stake in shares of Iron Mountain by 202.1% in the fourth quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock worth $1,572,936,000 after purchasing an additional 15,035,937 shares during the last quarter. Norges Bank bought a new stake in shares of Iron Mountain in the 4th quarter valued at about $228,391,000. Wellington Management Group LLP increased its stake in shares of Iron Mountain by 315.2% in the third quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock valued at $179,079,000 after buying an additional 2,286,711 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Iron Mountain by 60.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after acquiring an additional 1,546,592 shares during the last quarter. Finally, Centersquare Investment Management LLC boosted its holdings in Iron Mountain by 7,892.6% in the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after acquiring an additional 1,519,237 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

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.