Barclays Keeps Their Buy Rating on Iron Mountain (IRM)

Mar. 19, 2023, 08:25 PM

In a report released on March 17, Brendan Lynch from Barclays maintained a Buy rating on Iron Mountain (IRMResearch Report), with a price target of $56.00. The company’s shares closed last Friday at $50.29.

According to TipRanks, Lynch is a 2-star analyst with an average return of 0.9% and a 49.30% success rate. Lynch covers the Financial sector, focusing on stocks such as American Tower, Crown Castle, and Iron Mountain.

Iron Mountain has an analyst consensus of Strong Buy, with a price target consensus of $58.50.

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IRM market cap is currently $14.63B and has a P/E ratio of 26.41.

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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 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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