JPMorgan Chase & Co. Lowers Iron Mountain (NYSE:IRM) Price Target to $112.00

Iron Mountain (NYSE:IRM) had its target price decreased by JPMorgan Chase & Co. from $125.00 to $112.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 18.18% from the stock’s current price.

A number of other equities research analysts have also issued reports on the company. StockNews.com lowered Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Wells Fargo & Company lowered their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Barclays cut 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. Finally, Royal Bank of Canada increased their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Iron Mountain currently has an average rating of “Moderate Buy” and an average price target of $127.67.

Iron Mountain Price Performance

IRM stock traded down $0.64 during trading on Tuesday, reaching $94.77. 431,200 shares of the stock traded hands, compared to its average volume of 1,895,672. The firm has a market capitalization of $27.81 billion, a PE ratio of 262.99, a P/E/G ratio of 5.84 and a beta of 1.01. The business’s 50 day moving average price is $105.06 and its 200-day moving average price is $112.75. Iron Mountain has a 52-week low of $67.09 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a net margin of 1.77% and a negative return on equity of 44,660.04%. During the same period in the prior year, the firm earned $0.52 earnings per share. On average, equities research analysts predict that Iron Mountain will post 4.18 earnings per share for the current year.

Insider Transactions at Iron Mountain

In other news, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 69,131 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. In the last three months, insiders sold 162,391 shares of company stock valued at $16,805,912. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Iron Mountain

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Key Financial Inc increased its holdings in shares of Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after buying an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Iron Mountain during the fourth quarter worth $26,000. IMG Wealth Management Inc. purchased a new stake in shares of Iron Mountain during the fourth quarter valued at $26,000. Ashton Thomas Securities LLC acquired a new position in shares of Iron Mountain in the 3rd quarter valued at $31,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in Iron Mountain in the 3rd quarter worth about $36,000. 80.13% of the stock is owned by institutional investors and hedge funds.

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.