Iron Mountain (NYSE:IRM) Reaches New 1-Year High at $82.31

Iron Mountain Incorporated (NYSE:IRM - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The stock traded as high as $82.31 and last traded at $81.57, with a volume of 135144 shares changing hands. The stock had previously closed at $80.53.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Friday, March 15th. Stifel Nicolaus lifted their price objective on shares of Iron Mountain from $65.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday, January 23rd. Barclays increased their target price on Iron Mountain from $79.00 to $91.00 and gave the company an "overweight" rating in a research note on Tuesday, March 5th. Finally, TheStreet lowered Iron Mountain from a "b" rating to a "c" rating in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Iron Mountain presently has an average rating of "Moderate Buy" and an average target price of $73.80.

Iron Mountain Stock Performance

The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $24.14 billion, a PE ratio of 123.47, a PEG ratio of 4.69 and a beta of 0.96. The business's 50-day moving average is $78.31 and its 200 day moving average is $70.96.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.48). Iron Mountain had a return on equity of 282.93% and a net margin of 5.45%. The company had revenue of $1.42 billion during 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 firm's quarterly revenue was up 11.0% on a year-over-year basis. On average, equities research analysts predict that Iron Mountain Incorporated will post 4.18 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

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 issued 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 3.16%. Iron Mountain's dividend payout ratio is currently 393.95%.

Insiders Place Their Bets

In other news, CAO Daniel Borges sold 996 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $80.00, for a total transaction of $79,680.00. Following the completion of the sale, the chief accounting officer now directly owns 3,095 shares in the company, valued at $247,600. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Iron Mountain news, Director Wendy J. Murdock sold 3,547 shares of the company's stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $77.60, for a total value of $275,247.20. Following the completion of the transaction, the director now directly owns 20,944 shares in the company, valued at approximately $1,625,254.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Daniel Borges sold 996 shares of Iron Mountain stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $80.00, for a total transaction of $79,680.00. Following the sale, the chief accounting officer now directly owns 3,095 shares in the company, valued at approximately $247,600. The disclosure for this sale can be found here. Insiders have sold a total of 153,296 shares of company stock valued at $12,023,923 in the last quarter. Insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Iron Mountain

A number of institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its position in shares of Iron Mountain by 201.7% in the 4th quarter. Blue Trust Inc. now owns 362 shares of the financial services provider's stock worth $25,000 after acquiring an additional 242 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in Iron Mountain in the fourth quarter worth $26,000. Manchester Capital Management LLC lifted its position in Iron Mountain by 6,983.3% during the third quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider's stock valued at $25,000 after buying an additional 419 shares during the period. CVA Family Office LLC bought a new stake in shares of Iron Mountain during the 4th quarter valued at $32,000. Finally, Headlands Technologies LLC bought a new position in shares of Iron Mountain in the 1st quarter worth about $38,000. 80.13% of the stock is owned by institutional investors.

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.