Iron Mountain (NYSE:IRM) Sets New 52-Week High After Analyst Upgrade

Iron Mountain Incorporated (NYSE:IRM)’s stock price hit a new 52-week high during trading on Friday after The Goldman Sachs Group raised their price target on the stock from $89.00 to $101.00. The Goldman Sachs Group currently has a buy rating on the stock. Iron Mountain traded as high as $90.40 and last traded at $90.19, with a volume of 114157 shares. The stock had previously closed at $89.21.

A number of other equities research analysts also recently weighed in on IRM. Barclays raised their price target on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Wells Fargo & Company raised their price objective on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.33.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $76.68, for a total value of $1,217,295.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $22,670,442. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Iron Mountain news, EVP Mark Kidd sold 4,458 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $80.21, for a total transaction of $357,576.18. Following the completion of the sale, the executive vice president now owns 62,938 shares of the company’s stock, valued at approximately $5,048,256.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $22,670,442. The disclosure for this sale can be found here. Insiders sold a total of 104,511 shares of company stock worth $8,787,218 over the last three months. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IRM. Jaffetilchin Investment Partners LLC lifted its holdings in Iron Mountain by 1.1% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 11,432 shares of the financial services provider’s stock worth $917,000 after buying an additional 122 shares during the period. Checchi Capital Advisers LLC lifted its stake in Iron Mountain by 1.6% in the first quarter. Checchi Capital Advisers LLC now owns 9,097 shares of the financial services provider’s stock worth $730,000 after acquiring an additional 146 shares during the period. Chesley Taft & Associates LLC lifted its stake in Iron Mountain by 1.0% in the first quarter. Chesley Taft & Associates LLC now owns 14,650 shares of the financial services provider’s stock worth $1,175,000 after acquiring an additional 150 shares during the period. Crown Wealth Group LLC increased its position in Iron Mountain by 3.5% during the 1st quarter. Crown Wealth Group LLC now owns 4,543 shares of the financial services provider’s stock valued at $364,000 after purchasing an additional 153 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in Iron Mountain by 1.7% in the 4th quarter. Global Retirement Partners LLC now owns 9,216 shares of the financial services provider’s stock worth $612,000 after purchasing an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

The company’s 50-day moving average price is $82.25 and its 200 day moving average price is $75.92. The stock has a market capitalization of $26.26 billion, a PE ratio of 135.76, a PEG ratio of 5.24 and a beta of 0.95. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.86.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.60 annualized dividend and a dividend yield of 2.90%. Iron Mountain’s dividend payout ratio is presently 393.95%.

Iron Mountain Company Profile

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.