Credit Suisse Sticks to Its Sell Rating for Iron Mountain Inc (IRM)

By Austin Angelo

In a report issued on September 10, Kevin Mcveigh from Credit Suisse reiterated a Sell rating on Iron Mountain Inc (IRMResearch Report), with a price target of $21. The company’s shares closed last Monday at $33.90.

According to, Mcveigh is a 3-star analyst with an average return of 4.7% and a 63.8% success rate. Mcveigh covers the Services sector, focusing on stocks such as Thomson Reuters Corp, ManpowerGroup Inc., and Factset Research.

Iron Mountain Inc has an analyst consensus of Hold, with a price target consensus of $28.25.

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The company has a one-year high of $37.32 and a one-year low of $29.28. Currently, Iron Mountain Inc has an average volume of 2.69M.

Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IRM in relation to earlier this year.

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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 fulfillment 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.