Iron Mountain Incorporated (NYSE:IRM) Short Interest Update

Iron Mountain Incorporated (NYSE:IRM) was the recipient of a large decline in short interest in October. As of October 15th, there was short interest totalling 8,950,000 shares, a decline 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.

Analyst Upgrades and Downgrades

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

Iron Mountain Trading Down 2.5 %

Shares of Iron Mountain stock traded down $3.14 during mid-day trading on Thursday, hitting $124.50. The stock had a trading volume of 923,195 shares, compared to its average volume of 1,588,076. The firm has a 50-day moving average of $118.16 and a two-hundred day moving average of $99.54. Iron Mountain has a 12-month low of $57.36 and a 12-month high of $130.24. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The firm has a market cap of $36.52 billion, a P/E ratio of 163.65, a price-to-earnings-growth ratio of 7.42 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The company had revenue of $1.53 billion for 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%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.94 EPS. Sell-side analysts forecast that Iron Mountain will post 4.17 earnings per share for the current year.

Insider Transactions at Iron Mountain

In other news, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at $993,127.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related 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 value of $1,863,090.00. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,637 shares of company stock valued at $3,210,575 in the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Iron Mountain

A number of hedge funds and other institutional investors have recently modified their holdings of IRM. Assenagon Asset Management S.A. raised its stake in Iron Mountain by 0.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock worth $1,351,000 after acquiring an additional 92 shares in the last quarter. Schmidt P J Investment Management Inc. grew its position in Iron Mountain by 3.6% during the 3rd quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock worth $340,000 after purchasing an additional 100 shares during the last quarter. Raleigh Capital Management Inc. grew its position in Iron Mountain by 2.6% during the 3rd quarter. Raleigh Capital Management Inc. now owns 4,303 shares of the financial services provider’s stock worth $511,000 after purchasing an additional 107 shares during the last quarter. Csenge Advisory Group grew its position in Iron Mountain by 1.2% during the 2nd quarter. Csenge Advisory Group now owns 9,515 shares of the financial services provider’s stock worth $853,000 after purchasing an additional 114 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its position in Iron Mountain by 2.8% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,241 shares of the financial services provider’s stock worth $380,000 after purchasing an additional 117 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.