Tower Wealth Partners Inc. Buys Shares of 1,904 Iron Mountain Incorporated (NYSE:IRM)

by · The Markets Daily

Tower Wealth Partners Inc. purchased a new position in Iron Mountain Incorporated (NYSE:IRM – Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,904 shares of the financial services provider’s stock, valued at approximately $226,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Iron Mountain during the second quarter valued at $32,000. West Branch Capital LLC purchased a new stake in Iron Mountain in the 3rd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Iron Mountain in the 2nd quarter worth about $36,000. Headlands Technologies LLC purchased a new position in shares of Iron Mountain during the first quarter worth approximately $38,000. Finally, Family Firm Inc. bought a new stake in shares of Iron Mountain during the second quarter valued at approximately $45,000. 80.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Get Our Latest Report on IRM

Iron Mountain Stock Down 2.1 %

Shares of Iron Mountain stock opened at $121.16 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The company has a market cap of $35.54 billion, a P/E ratio of 155.34, a PEG ratio of 7.65 and a beta of 1.00. The firm’s 50 day moving average price is $118.54 and its 200-day moving average price is $100.03. Iron Mountain Incorporated has a 52-week low of $57.36 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM – Get Free Report) last announced its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.59). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the company earned $0.94 earnings per share. The company’s quarterly revenue was up 13.0% on a year-over-year basis. On average, sell-side analysts predict that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Insider Transactions at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,697,484. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,697,484. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain 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 of the company’s stock, valued at approximately $993,127.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,637 shares of company stock worth $3,210,575. Company insiders own 2.10% of the company’s stock.

Iron Mountain Profile

(Free Report)

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.

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