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

Iron Mountain (NYSE:IRM) had its price target lifted by Stifel Nicolaus from $86.00 to $103.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 8.97% from the stock’s current price.

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

Iron Mountain Price Performance

Shares of IRM stock opened at $94.52 on Wednesday. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s fifty day simple moving average is $84.96 and its 200 day simple moving average is $77.43. Iron Mountain has a one year low of $56.51 and a one year high of $97.50. The firm has a market cap of $27.71 billion, a price-to-earnings ratio of 143.21, a P/E/G ratio of 5.50 and a beta of 0.98.

Insider Transactions at Iron Mountain

In related news, Director Wendy J. Murdock sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $75.35, for a total value of $113,025.00. Following the completion of the transaction, the director now owns 24,491 shares in the company, valued at approximately $1,845,396.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $76.68, for a total value of $1,217,295.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $22,670,442. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Wendy J. Murdock sold 1,500 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $75.35, for a total value of $113,025.00. Following the sale, the director now directly owns 24,491 shares of the company’s stock, valued at $1,845,396.85. The disclosure for this sale can be found here. Over 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.

Institutional Investors Weigh In On Iron Mountain

Several institutional investors have recently modified their holdings of IRM. Blue Trust Inc. lifted 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 valued at $25,000 after buying an additional 242 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Iron Mountain in the 4th quarter worth $26,000. CVA Family Office LLC acquired a new stake in shares of Iron Mountain during the fourth quarter worth $32,000. Transcendent Capital Group LLC bought a new stake in Iron Mountain in the fourth quarter valued at about $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Iron Mountain in the second quarter valued at about $36,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

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.