Iron Mountain (NYSE:IRM) Reaches New 12-Month High – Should You Buy?

Shares of Iron Mountain Incorporated (NYSE:IRM) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $125.84 and last traded at $125.53, with a volume of 123982 shares changing hands. The stock had previously closed at $123.87.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Barclays raised their price target on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Wells Fargo & Company lifted their target price on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. 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 report on Friday, August 2nd. Stifel Nicolaus raised their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $115.50.

Iron Mountain Stock Up 1.3 %

The company has a market cap of $36.79 billion, a P/E ratio of 187.68, a P/E/G ratio of 7.22 and a beta of 1.00. The stock has a 50-day moving average of $116.05 and a two-hundred day moving average of $97.59. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. Iron Mountain’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the firm earned $0.94 earnings per share. On average, research analysts anticipate that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is 433.33%.

Insider Activity at Iron Mountain

In other news, COO John Tomovcsik sold 2,866 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $105.00, for a total value of $300,930.00. Following the completion of the sale, the chief operating officer now directly owns 15,000 shares of the company’s stock, valued at approximately $1,575,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO John Tomovcsik sold 2,866 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $105.00, for a total value of $300,930.00. Following the transaction, the chief operating officer now directly owns 15,000 shares in the company, valued at approximately $1,575,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,503 shares of company stock worth $3,511,505 in the last 90 days. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Iron Mountain

A number of hedge funds have recently added to or reduced their stakes in IRM. Fisher Asset Management LLC purchased a new stake in shares of Iron Mountain in the 4th quarter worth $271,000. Ballentine Partners LLC raised its stake in shares of Iron Mountain by 18.3% in the first quarter. Ballentine Partners LLC now owns 4,077 shares of the financial services provider’s stock worth $327,000 after buying an additional 631 shares during the period. RMR Wealth Builders purchased a new position in shares of Iron Mountain during the 1st quarter valued at about $377,000. Wealthcare Advisory Partners LLC increased its holdings in Iron Mountain by 177.7% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 12,789 shares of the financial services provider’s stock worth $1,026,000 after acquiring an additional 8,184 shares in the last quarter. Finally, Vert Asset Management LLC lifted its holdings in Iron Mountain by 3.1% during the first quarter. Vert Asset Management LLC now owns 121,903 shares of the financial services provider’s stock valued at $9,778,000 after purchasing an additional 3,608 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other 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.