Iron Mountain (NYSE:IRM) Hits New 12-Month High at $78.12

Iron Mountain Incorporated (NYSE:IRMGet Free Report) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $78.12 and last traded at $78.10, with a volume of 374664 shares. The stock had previously closed at $75.36.

Analyst Upgrades and Downgrades

IRM has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on Iron Mountain from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. TheStreet downgraded Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Stifel Nicolaus boosted their price objective on Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. UBS Group initiated coverage on Iron Mountain in a research note on Tuesday, November 7th. They issued a “sell” rating and a $44.00 price objective on the stock. Finally, Barclays lifted their target price on Iron Mountain from $69.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.40.

Check Out Our Latest Stock Analysis on IRM

Iron Mountain Stock Up 4.4 %

The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 55.78. The firm has a market capitalization of $23.00 billion, a price-to-earnings ratio of 126.05, a PEG ratio of 4.61 and a beta of 0.90. The stock has a fifty day moving average of $68.68 and a 200-day moving average of $64.26.

Iron Mountain (NYSE:IRMGet Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the prior year, the firm posted $0.98 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts expect that Iron Mountain Incorporated will post 4.01 EPS for the current year.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.65 per share. The ex-dividend date is Thursday, March 14th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.30%. Iron Mountain’s dividend payout ratio is 412.70%.

Insider Activity

In other news, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $65.94, for a total transaction of $131,880.00. Following the transaction, the executive vice president now owns 52,026 shares in the company, valued at $3,430,594.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $67.47, for a total value of $1,071,086.25. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $19,947,505.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $65.94, for a total value of $131,880.00. Following the completion of the transaction, the executive vice president now owns 52,026 shares in the company, valued at approximately $3,430,594.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,515 shares of company stock worth $4,467,480. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of IRM. V Square Quantitative Management LLC lifted its position in shares of Iron Mountain by 24.3% in the fourth quarter. V Square Quantitative Management LLC now owns 6,617 shares of the financial services provider’s stock worth $463,000 after buying an additional 1,295 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Iron Mountain by 1.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 482,222 shares of the financial services provider’s stock worth $33,747,000 after purchasing an additional 7,779 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of Iron Mountain by 2.1% during the 4th quarter. Harbour Investments Inc. now owns 11,186 shares of the financial services provider’s stock worth $783,000 after purchasing an additional 225 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Iron Mountain by 4.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 126,068 shares of the financial services provider’s stock worth $8,822,000 after purchasing an additional 4,792 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in Iron Mountain by 32.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 93,911 shares of the financial services provider’s stock valued at $6,572,000 after acquiring an additional 22,945 shares in the last quarter. Hedge funds and other institutional investors own 76.94% of the company’s stock.

About Iron Mountain

(Get Free Report)

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management, innovative storage, data center infrastructure, and asset lifecycle management. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work.

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