Iron Mountain (NYSE:IRM) Hits New 12-Month High After Analyst Upgrade

Iron Mountain Incorporated (NYSE:IRM)’s share 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 trading hands. The stock had previously closed at $89.21.

Several other equities analysts have also weighed in on IRM. Wells Fargo & Company increased their target price on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Barclays increased their price target on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.33.

Insider Activity

In other news, EVP Deborah Marson sold 2,000 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $78.48, for a total transaction of $156,960.00. Following the completion of the sale, the executive vice president now owns 65,286 shares of the company’s stock, valued at $5,123,645.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $78.48, for a total value of $156,960.00. Following the sale, the executive vice president now owns 65,286 shares in the company, valued at approximately $5,123,645.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Walter C. Rakowich sold 954 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $81.33, for a total transaction of $77,588.82. Following the transaction, the director now directly owns 35,166 shares of the company’s stock, valued at $2,860,050.78. The disclosure for this sale can be found here. Insiders have sold 104,511 shares of company stock worth $8,787,218 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Iron Mountain

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jaffetilchin Investment Partners LLC grew its stake in shares of Iron Mountain by 1.1% in the first quarter. Jaffetilchin Investment Partners LLC now owns 11,432 shares of the financial services provider’s stock valued at $917,000 after buying an additional 122 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in shares of Iron Mountain by 1.6% during the 1st quarter. Checchi Capital Advisers LLC now owns 9,097 shares of the financial services provider’s stock worth $730,000 after purchasing an additional 146 shares during the last quarter. Chesley Taft & Associates LLC increased its stake in shares of Iron Mountain by 1.0% during the 1st quarter. Chesley Taft & Associates LLC now owns 14,650 shares of the financial services provider’s stock worth $1,175,000 after purchasing an additional 150 shares during the last quarter. Crown Wealth Group LLC lifted its stake in Iron Mountain by 3.5% in 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 last quarter. Finally, Global Retirement Partners LLC grew its holdings in Iron Mountain by 1.7% during the fourth 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 during the period. 80.13% of the stock is owned by institutional investors.

Iron Mountain Trading Up 0.4 %

The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50-day simple moving average of $82.25 and a two-hundred day simple moving average of $75.92. The stock has a market cap of $26.26 billion, a price-to-earnings ratio of 135.76, a P/E/G ratio of 5.24 and a beta of 0.95.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders 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 dividend on an annualized basis and a yield of 2.90%. Iron Mountain’s dividend payout ratio (DPR) is 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.