Iron Mountain Incorporated (NYSE:IRM)’s share price gapped down before the market opened on Friday . The stock had previously closed at $39.95, but opened at $39.01. Iron Mountain shares last traded at $38.12, with a volume of 2,530,489 shares.
IRM has been the topic of several recent research reports. BidaskClub raised Iron Mountain from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Zacks Investment Research lowered Iron Mountain from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Stifel Nicolaus reissued a “buy” rating and set a $40.00 price target on shares of Iron Mountain in a research report on Sunday, September 3rd. Finally, Robert W. Baird set a $39.00 price target on Iron Mountain and gave the stock a “hold” rating in a research report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $36.33.
The stock’s 50-day moving average price is $39.15 and its 200 day moving average price is $36.20. The firm has a market cap of $10.08 billion, a P/E ratio of 52.29 and a beta of 0.91.
Iron Mountain (NYSE:IRM) last announced its earnings results on Friday, July 28th. The financial services provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. Iron Mountain had a return on equity of 14.46% and a net margin of 5.14%. The firm had revenue of $950.00 million during the quarter, compared to the consensus estimate of $955.05 million. During the same quarter in the prior year, the company earned $0.24 EPS. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities research analysts anticipate that Iron Mountain Incorporated will post $1.18 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were paid a dividend of $0.55 per share. The ex-dividend date was Thursday, September 14th. This represents a $2.20 annualized dividend and a yield of 5.77%. Iron Mountain’s payout ratio is 297.30%.
In related news, EVP John Tomovcsik sold 29,450 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $38.00, for a total transaction of $1,119,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 51,401 shares of company stock valued at $1,997,617. 1.50% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Creative Planning boosted its stake in Iron Mountain by 4.6% during the 2nd quarter. Creative Planning now owns 3,049 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 134 shares during the period. Pacer Advisors Inc. boosted its stake in Iron Mountain by 3.4% during the 1st quarter. Pacer Advisors Inc. now owns 3,663 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 121 shares during the period. Soros Fund Management LLC bought a new stake in Iron Mountain during the 1st quarter valued at approximately $203,000. Ameritas Investment Partners Inc. bought a new stake in Iron Mountain during the 1st quarter valued at approximately $209,000. Finally, CIBC World Markets Inc. bought a new stake in Iron Mountain during the 2nd quarter valued at approximately $203,000. Hedge funds and other institutional investors own 87.46% of the company’s stock.
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About Iron Mountain
Iron Mountain Incorporated (Iron Mountain) is engaged in storing records, primarily paper documents and data backup media, and provide information management services. The Company offers records management services, data protection and recovery services and information destruction services. Its information management services are divided into three categories: records management services, data protection and recovery services, and information destruction services.
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