The Goldman Sachs Group Boosts Iron Mountain (NYSE:IRM) Price Target to $120.00

Iron Mountain (NYSE:IRM) had its price target increased by analysts at The Goldman Sachs Group from $106.00 to $120.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 11.96% from the company’s current price.

Several other research analysts have also recently weighed in on the company. Wells Fargo & Company increased their price objective on Iron Mountain from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Stifel Nicolaus boosted their price target on Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.33.

Iron Mountain Stock Performance

Shares of IRM traded down $2.36 during trading hours on Friday, hitting $107.18. The company had a trading volume of 1,399,829 shares, compared to its average volume of 1,643,180. The business has a fifty day moving average of $90.92 and a 200-day moving average of $80.70. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63. The firm has a market cap of $31.42 billion, a price-to-earnings ratio of 162.82, a PEG ratio of 6.08 and a beta of 0.98. Iron Mountain has a 12 month low of $56.51 and a 12 month high of $112.69.

Insider Buying and Selling at Iron Mountain

In related news, COO John Tomovcsik sold 2,500 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the transaction, the chief operating officer now owns 17,866 shares of the company’s stock, valued at approximately $1,786,600. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $91.59, for a total value of $1,453,991.25. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $27,078,583.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO John Tomovcsik sold 2,500 shares of Iron Mountain stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $100.00, for a total transaction of $250,000.00. Following the transaction, the chief operating officer now owns 17,866 shares in the company, valued at approximately $1,786,600. The disclosure for this sale can be found here. Insiders have sold a total of 97,053 shares of company stock worth $8,490,753 over the last 90 days. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

A number of hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. grew its holdings in Iron Mountain by 201.7% during the 4th quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 242 shares during the period. DAVENPORT & Co LLC increased its stake in shares of Iron Mountain by 4.4% in the 4th quarter. DAVENPORT & Co LLC now owns 22,159 shares of the financial services provider’s stock valued at $1,551,000 after acquiring an additional 925 shares in the last quarter. Ballentine Partners LLC bought a new stake in shares of Iron Mountain in the 4th quarter valued at $241,000. Arizona State Retirement System lifted its position in shares of Iron Mountain by 0.8% during the 4th quarter. Arizona State Retirement System now owns 80,213 shares of the financial services provider’s stock valued at $5,613,000 after acquiring an additional 652 shares during the period. Finally, Asset Management One Co. Ltd. grew its holdings in Iron Mountain by 4.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 589,698 shares of the financial services provider’s stock worth $41,633,000 after purchasing an additional 22,424 shares during the period. 80.13% of the stock is currently owned by institutional investors.

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.