Wells Fargo & Company Increases Iron Mountain (NYSE:IRM) Price Target to $90.00

Iron Mountain (NYSE:IRM) had its target price boosted by analysts at Wells Fargo & Company from $80.00 to $90.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 12.95% from the stock’s current price.

Several other equities analysts have also commented on IRM. Barclays increased their target price on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Stifel Nicolaus increased their target price on shares of Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Finally, TheStreet lowered shares of Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.80.

Iron Mountain Price Performance

Shares of Iron Mountain stock traded up $1.07 on Friday, hitting $79.68. 1,184,975 shares of the company traded hands, compared to its average volume of 1,561,101. The firm’s 50-day simple moving average is $71.31 and its 200 day simple moving average is $65.92. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 55.78. The company has a market cap of $23.29 billion, a P/E ratio of 126.48, a P/E/G ratio of 4.69 and a beta of 0.94. Iron Mountain has a 12-month low of $48.94 and a 12-month high of $82.19.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.48). Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the business posted $0.98 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Analysts expect that Iron Mountain will post 4.16 earnings per share for the current fiscal year.

Insider Transactions at Iron Mountain

In other news, CAO Daniel Borges sold 996 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $80.00, for a total value of $79,680.00. Following the completion of the sale, the chief accounting officer now directly owns 3,095 shares of the company’s stock, valued at approximately $247,600. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Daniel Borges sold 996 shares of Iron Mountain stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $80.00, for a total transaction of $79,680.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,095 shares of the company’s stock, valued at approximately $247,600. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark Kidd sold 11,376 shares of Iron Mountain stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $69.90, for a total transaction of $795,182.40. Following the transaction, the executive vice president now directly owns 42,739 shares of the company’s stock, valued at $2,987,456.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 171,983 shares of company stock valued at $13,030,171. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of IRM. Blue Trust Inc. raised its holdings in Iron Mountain by 201.7% in the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after buying an additional 242 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in Iron Mountain in the fourth quarter worth about $26,000. Harbor Investment Advisory LLC raised its holdings in Iron Mountain by 92.2% in the third quarter. Harbor Investment Advisory LLC now owns 417 shares of the financial services provider’s stock worth $25,000 after buying an additional 200 shares during the last quarter. Manchester Capital Management LLC raised its holdings in Iron Mountain by 6,983.3% in the third quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock worth $25,000 after buying an additional 419 shares during the last quarter. Finally, First Capital Advisors Group LLC. bought a new stake in shares of Iron Mountain in the second quarter worth approximately $25,000. 76.94% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Company Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management, innovative storage, data center infrastructure, and asset lifecycle management. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work.