Iron Mountain Inc (NYSE:IRM):
Iron Mountain Enters into Agreement to Expand Presence in China with Acquisition.
The company is now up by 7.37% since yesterday’s close of 94.05.
Iron Mountain Incorporated, launched on June 26, 2014, is a holding company, which stores records, primarily physical records and data backup media, and provides information management services in various locations throughout North America, Europe, Latin America, Asia Pacific and Africa. The Company operates through five segments: North American Records and Information Management Business, North American Data Management Business, Western European Business, Other International Business, and Corporate and Other Business. The Company offers records and information management services, and data management services. The Company provides storage and information management services to legal, financial, healthcare, insurance, life sciences, energy, businesses services, entertainment and government organizations. As of December 31, 2016, the Business’s courier fleet consisted of approximately 4,500 owned or leased vehicles. Its other services include information destruction services (primarily secure shredding) (Destruction), information governance and digital solutions, compliant records management and consulting services, and other ancillary services..
Investors are feeling more bullish on Iron Mountain Inc lately as evidenced by the decrease in short interest. The firm experienced a fall in short interest of -4.26% as of October 31, 2017 from the last reporting period. Short interest decreased 941,376 over that timeframe. Days to cover decreased from 21.0 to 17.0 and the percentage of shorted shares is inf% as of October 31.
A few investment analysts have issued ratings on the company of late. Equity analyst Robert W. Baird raised the price target on October 25 changing the price objective from $39.00 to $43.00 and stated a “Neutral” rating. On October 20 Stifel Nicolaus kept the stock rating at “Buy” with a current price target of $43.00.
Equity analyst Evercore ISI released research on IRM with a rating of “Outperform”. September 3 investment analysts at Stifel Nicolaus left the company rating at “Buy” projecting a price of $40.00.
On August 25 analysts at Robert W. Baird issued a report on IRM with a rating of “Hold” and establishing a price target of $39.00.