Iron Mountain (NYSE:IRM) Hits New 1-Year High at $112.93

Iron Mountain Incorporated (NYSE:IRM)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $112.93 and last traded at $112.65, with a volume of 522931 shares trading hands. The stock had previously closed at $112.10.

Wall Street Analysts Forecast Growth

IRM has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Stifel Nicolaus upped their target price on Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Wells Fargo & Company upped their price target on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group upped their price target on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Iron Mountain has an average rating of “Moderate Buy” and a consensus price target of $99.83.

Iron Mountain Trading Up 0.5 %

The company has a 50 day moving average of $98.56 and a 200-day moving average of $84.96. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.79. The stock has a market cap of $33.23 billion, a price-to-earnings ratio of 171.74, a price-to-earnings-growth ratio of 6.49 and a beta of 0.98.

Iron Mountain (NYSE:IRM) last posted 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 return on equity of 595.44% and a net margin of 3.94%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the company posted $0.94 EPS. Iron Mountain’s revenue was up 13.0% on a year-over-year basis. On average, research analysts anticipate that Iron Mountain Incorporated will post 4.22 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be paid a dividend of $0.715 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date is Monday, September 16th. This represents a $2.86 annualized dividend and a yield of 2.52%. Iron Mountain’s dividend payout ratio is presently 433.33%.

Insider Buying and Selling

In other news, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the transaction, the chief operating officer now owns 14,000 shares in the company, valued at approximately $1,540,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the transaction, the chief operating officer now owns 14,000 shares in the company, valued at approximately $1,540,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $81.03, for a total value of $1,286,351.25. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $23,956,519.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,634 shares of company stock valued at $8,874,690. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Iron Mountain

Hedge funds and other institutional investors have recently made changes to their positions in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Iron Mountain during the 2nd quarter worth about $32,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Iron Mountain during the 2nd quarter worth about $36,000. Headlands Technologies LLC acquired a new stake in shares of Iron Mountain during the 1st quarter worth about $38,000. Family Firm Inc. acquired a new stake in shares of Iron Mountain during the 2nd quarter worth about $45,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Iron Mountain during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

About Iron Mountain

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.