Wells Fargo & Company Cuts Iron Mountain (NYSE:IRM) Price Target to $125.00

Iron Mountain (NYSE:IRM) had its target price lowered by Wells Fargo & Company from $135.00 to $125.00 in a report released on Tuesday,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

IRM has been the subject of a number of other research reports. Royal Bank of Canada raised their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Barclays cut their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, StockNews.com lowered Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $129.17.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $101.31 on Tuesday. The business has a 50 day moving average price of $108.43 and a 200 day moving average price of $112.67. Iron Mountain has a 1 year low of $66.20 and a 1 year high of $130.24. The company has a market capitalization of $29.73 billion, a P/E ratio of 281.42, a P/E/G ratio of 5.58 and a beta of 1.01.

Insiders Place Their Bets

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $117.96, for a total value of $1,872,615.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,874,874. The trade was a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 125,016 shares of company stock worth $13,666,427 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IRM. Geode Capital Management LLC raised its holdings in shares of Iron Mountain by 1.6% in the third quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider’s stock valued at $978,479,000 after purchasing an additional 128,622 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Iron Mountain by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider’s stock valued at $402,396,000 after purchasing an additional 141,675 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Iron Mountain by 537.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock valued at $376,756,000 after acquiring an additional 2,672,821 shares during the period. Captrust Financial Advisors boosted its stake in Iron Mountain by 5.2% in the 3rd quarter. Captrust Financial Advisors now owns 951,552 shares of the financial services provider’s stock worth $113,073,000 after purchasing an additional 47,327 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in Iron Mountain by 1.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 910,723 shares of the financial services provider’s stock valued at $95,726,000 after acquiring an additional 10,160 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

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.