Iron Mountain (NYSE:IRM) Stock: Insider Greg Mcintosh Sells 5,000 Shares

Iron Mountain Incorporated (NYSE:IRM) EVP Greg Mcintosh sold 5,000 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $116.96, for a total value of $584,800.00. Following the sale, the executive vice president directly owned 65,634 shares in the company, valued at $7,676,552.64. This represents a 7.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Iron Mountain Stock Up 2.0%

Shares of IRM stock opened at $118.99 on Thursday. The stock has a market cap of $35.42 billion, a PE ratio of 85.00 and a beta of 1.18. The business has a 50-day simple moving average of $114.40 and a 200-day simple moving average of $115.26. Iron Mountain Incorporated has a 52-week low of $77.77 and a 52-week high of $134.68.

Iron Mountain (NYSE:IRM) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.06. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.97 billion. Iron Mountain had a negative return on equity of 85.44% and a net margin of 5.54%. The company’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.24 earnings per share. Sell-side analysts anticipate that Iron Mountain Incorporated will post 5.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IRM has been the topic of several recent research reports. BNP Paribas Exane upped their price objective on Iron Mountain from $138.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Weiss Ratings cut shares of Iron Mountain from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 25th. Wall Street Zen lowered shares of Iron Mountain from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Wells Fargo & Company boosted their target price on shares of Iron Mountain from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of Iron Mountain from $138.00 to $147.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.89.

Institutional Investors Weigh In On Iron Mountain

Institutional investors have recently modified their holdings of the business. Bell Investment Advisors Inc acquired a new position in Iron Mountain during the second quarter worth about $26,000. Meeder Asset Management Inc. acquired a new stake in Iron Mountain in the 2nd quarter valued at about $27,000. Wellington Altus USA Inc. acquired a new stake in Iron Mountain in the 2nd quarter valued at about $27,000. Sawyer & Company Inc purchased a new position in Iron Mountain in the 3rd quarter worth approximately $27,000. Finally, Dynamic Wealth Strategies LLC purchased a new position in Iron Mountain in the 1st quarter worth approximately $31,000. 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 information management and storage company that helps organizations protect, manage and optimize their physical and digital assets. Founded in 1951, the company began as a records storage provider and has expanded into a broader information lifecycle management business.

Its services include records storage and retrieval, information governance, secure shredding and destruction, document scanning, digital transformation, backup and recovery, and data center services.