Wells Fargo analyst Eric Luebchow maintained a Buy rating on Iron Mountain (IRM – Research Report) yesterday and set a price target of $65.00. The company’s shares closed yesterday at $59.75.
Luebchow covers the Real Estate sector, focusing on stocks such as Cubesmart, Equinix, and American Tower. According to TipRanks, Luebchow has an average return of -2.2% and a 40.20% success rate on recommended stocks.
Iron Mountain has an analyst consensus of Strong Buy, with a price target consensus of $67.20.
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Based on Iron Mountain’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $830.76 million and a net profit of $114 thousand. In comparison, last year the company earned a revenue of $1.29 billion and had a net profit of $200.08 million
Based on the recent corporate insider activity of 86 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IRM in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Iron Mountain (IRM) Company Description:
Iron Mountain, Inc. engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business. The North American Records & Information Management Business segment offers record management, destruction, and fulfilment services throughout U.S. and Canada. The North American Data Management Business segment handles data protection and recovery, server and computer backup services, and safeguarding of electronic and physical media in U.S. and Canada. The Western European Business segment offers records management, data protection and recovery services, and document management solutions throughout the United Kingdom, Ireland, Austria, Belgium, France, Germany, Netherlands, Spain, and Switzerland. The Other International Business segment offers storage and information management services throughout the remaining European countries, Latin America, the Middle East and Africa. The Global Data Center Business segment provides data center facilities to protect mission-critical assets and ensure the continued operation of its customers IT infrastructures, with secure and reliable colocation and wholesale options. The Corporate & Other Business segment consists of the storage, safeguarding and electronic or physical deliveries of physical media of all types and digital content repository systems to house, distribute, and archive key media assets, primarily for entertainment and media industry clients. The company was founded by Herman Knaust in 1951 and is headquartered in Boston, MA.
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