Iron Mountain (NYSE:IRM) CEO William Meaney Sells 69,125 Shares

Iron Mountain Incorporated (NYSE:IRM) CEO William Meaney sold 69,125 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $102.75, for a total transaction of $7,102,593.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Iron Mountain Stock Down 2.7%

IRM stock traded down $2.80 during trading on Wednesday, hitting $100.52. 3,093,128 shares of the company’s stock traded hands, compared to its average volume of 1,718,147. The stock has a fifty day moving average price of $100.60 and a two-hundred day moving average price of $98.14. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $125.38. The stock has a market capitalization of $29.69 billion, a price-to-earnings ratio of 718.05 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.03. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The business’s revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $1.13 EPS. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. As a group, equities research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Jefferies Financial Group assumed coverage on Iron Mountain in a report on Monday, September 22nd. They set a “buy” rating and a $120.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Finally, Barclays increased their target price on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $116.83.

Institutional Investors Weigh In On Iron Mountain

A number of institutional investors and hedge funds have recently modified their holdings of IRM. Teacher Retirement System of Texas lifted its holdings in shares of Iron Mountain by 60.4% during the 1st quarter. Teacher Retirement System of Texas now owns 57,824 shares of the financial services provider’s stock valued at $4,975,000 after buying an additional 21,775 shares during the last quarter. Wayfinding Financial LLC bought a new position in Iron Mountain during the first quarter valued at approximately $37,000. Crossmark Global Holdings Inc. lifted its stake in Iron Mountain by 7.7% in the first quarter. Crossmark Global Holdings Inc. now owns 62,028 shares of the financial services provider’s stock valued at $5,337,000 after acquiring an additional 4,422 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in Iron Mountain by 3.7% in the first quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider’s stock worth $285,000 after acquiring an additional 118 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Iron Mountain by 0.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,126,012 shares of the financial services provider’s stock worth $95,072,000 after purchasing an additional 3,512 shares during the last quarter. 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.