Iron Mountain (NYSE:IRM) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Monday, ValuEngine reports.

IRM has been the topic of a number of other research reports. TheStreet raised Iron Mountain from a “c+” rating to a “b-” rating in a report on Monday, September 9th. Wells Fargo & Co started coverage on Iron Mountain in a report on Wednesday, July 10th. They issued an “outperform” rating and a $31.60 target price on the stock. Bank of America downgraded Iron Mountain from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $33.00 to $25.00 in a report on Thursday, July 11th. Robert W. Baird raised Iron Mountain from an “underperform” rating to a “neutral” rating and raised their target price for the company from $27.00 to $29.00 in a report on Friday, August 2nd. Finally, Credit Suisse Group reaffirmed a “sell” rating and issued a $21.00 target price on shares of Iron Mountain in a report on Thursday. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Iron Mountain presently has a consensus rating of “Hold” and an average price target of $33.51.

Iron Mountain stock traded down $0.27 during mid-day trading on Monday, reaching $32.28. 3,670,500 shares of the company were exchanged, compared to its average volume of 2,499,342. The company has a fifty day simple moving average of $31.61 and a 200-day simple moving average of $32.59. The firm has a market cap of $9.31 billion, a PE ratio of 14.03, a PEG ratio of 3.97 and a beta of 0.54. Iron Mountain has a 12 month low of $29.28 and a 12 month high of $37.32. The company has a debt-to-equity ratio of 6.06, a current ratio of 0.75 and a quick ratio of 0.75.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, August 1st. The financial services provider reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.03. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. Iron Mountain had a return on equity of 19.65% and a net margin of 8.18%. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 EPS. Sell-side analysts anticipate that Iron Mountain will post 2.26 earnings per share for the current year.

In related news, EVP Patrick J. Keddy sold 6,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $33.00, for a total transaction of $198,000.00. Following the sale, the executive vice president now owns 24,114 shares of the company’s stock, valued at approximately $795,762. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Iron Mountain by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 45,733,966 shares of the financial services provider’s stock valued at $1,431,474,000 after acquiring an additional 1,111,513 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Iron Mountain by 1.9% during the 2nd quarter. BlackRock Inc. now owns 20,655,719 shares of the financial services provider’s stock valued at $646,523,000 after acquiring an additional 384,196 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Iron Mountain by 4.7% during the 2nd quarter. Invesco Ltd. now owns 6,460,424 shares of the financial services provider’s stock valued at $202,212,000 after acquiring an additional 291,618 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Iron Mountain by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 3,915,200 shares of the financial services provider’s stock valued at $126,683,000 after acquiring an additional 270,237 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Iron Mountain by 34.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,906,191 shares of the financial services provider’s stock valued at $120,624,000 after acquiring an additional 990,959 shares in the last quarter. 85.97% of the stock is currently owned by institutional investors.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.

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Analyst Recommendations for Iron Mountain (NYSE:IRM)

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