Iron Mountain (NYSE:IRM) Stock Price Down 9.5% – Here’s Why

Shares of Iron Mountain Incorporated (NYSE:IRM) fell 9.5% during mid-day trading on Wednesday . The company traded as low as $113.50 and last traded at $113.81. 1,797,768 shares changed hands during mid-day trading, an increase of 13% from the average session volume of 1,594,856 shares. The stock had previously closed at $125.73.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IRM. JPMorgan Chase & Co. upped their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Barclays increased their price target on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Stifel Nicolaus increased their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Wells Fargo & Company increased their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group increased their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.50.

Iron Mountain Price Performance

The company’s fifty day moving average price is $118.93 and its 200 day moving average price is $101.08. The company has a market capitalization of $33.57 billion, a P/E ratio of 146.72, a PEG ratio of 7.33 and a beta of 0.99. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63.

Insider Transactions at Iron Mountain

In related news, EVP Edward Baker-Greene sold 2,262 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction of $248,254.50. Following the sale, the executive vice president now owns 9,049 shares in the company, valued at approximately $993,127.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Iron Mountain news, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the sale, the executive vice president now owns 9,049 shares in the company, valued at $993,127.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO John Tomovcsik sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the sale, the chief operating officer now owns 14,000 shares in the company, valued at $1,540,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,637 shares of company stock valued at $3,210,575. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Iron Mountain

Several large investors have recently modified their holdings of the business. Muzinich & Co. Inc. raised its stake in shares of Iron Mountain by 30.8% during the third quarter. Muzinich & Co. Inc. now owns 1,087 shares of the financial services provider’s stock valued at $129,000 after acquiring an additional 256 shares during the last quarter. Mizuho Securities USA LLC raised its stake in Iron Mountain by 2,193.9% during the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock worth $61,613,000 after buying an additional 495,898 shares during the last quarter. Empowered Funds LLC raised its stake in Iron Mountain by 3.2% during the third quarter. Empowered Funds LLC now owns 13,482 shares of the financial services provider’s stock worth $1,602,000 after buying an additional 414 shares during the last quarter. Vectors Research Management LLC raised its stake in Iron Mountain by 4.3% during the third quarter. Vectors Research Management LLC now owns 43,432 shares of the financial services provider’s stock worth $5,160,000 after buying an additional 1,780 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in Iron Mountain by 8.3% during the third quarter. CIBC Asset Management Inc now owns 43,015 shares of the financial services provider’s stock worth $5,111,000 after buying an additional 3,306 shares during 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.